More than 650 companies worldwide are gearing up for the East Africa Investment Forum & Trade Exhibition, set to occur alongside the Non-Aligned Movement (NAM) Conference next week. The Uganda Investment Authority (UIA), the country’s statutory agency for investment, aims to secure deals totaling $100 million (Shs3780b) during the event.
The three-day forum, scheduled from January 15 to 17 at the Serena Conference Centre in Kampala, carries the theme “Deeper cooperation in trade, tourism, and investment for shared global affluence.” Businesses, companies, and governments participating in the event hope to finalize significant trade and investment agreements. Additionally, the forum aims to showcase Uganda and the region’s offerings to the global market.
Mr. Morrison Rwakakamba, the UIA board chairperson, sees the 19th NAM Summit and the 3rd South Summit as an excellent opportunity to centralize trade, industry, and investment within South-to-South cooperation. The event will specifically focus on promoting intra NAM and G77 and China trade, providing Africa with a chance to unlock the potential of the African Continental Free Trade Area (AfCFTA).
NAM, comprising 120 countries, and the G77 summit, uniting developing countries, will convene in Uganda for their respective summits. The country expects between 1,000 and 1,500 delegates, with at least 100 countries confirming representation at the dual summits.
UIA aims to present initiatives in priority sectors like agro-industrialization, tourism, manufacturing, industrial parks, energy, ICT, mining, and oil and gas. The authority hopes to generate a list of investors interested in Uganda’s opportunities and sign at least three joint venture partnerships.
Mr. Francis Kisirinya, lead coordinator of the Forum, outlines its three aspects: an exhibition of products and services to boost investor confidence, business-to-business or business-to-government meetings for potential partnerships, and a conference dedicated to improving the East African Community (EAC) business environment.
The expected benefits extend beyond direct business deals. Mr. Kisirinya emphasizes the positive impact on various sectors, such as food vendors, hotels, and souvenir businesses. The broader goal is to make Uganda an attractive destination and enhance the country’s global image.
Background and Objectives of the Forum
The 19th NAM Summit and 3rd South Summit provide an opportunity to integrate trade, industry, and investment into South-to-South cooperation. The focus is on promoting intra NAM and G77 and China trade to leverage the potential of AfCFTA.
Objectives of the Forum:
- Create opportunities in trade, tourism, investment, and technology transfer.
- Promote investment opportunities in priority sectors.
- Identify joint venture partnerships for affordable financing, technology transfer, and market opportunities.
- Agree and sign a cooperation framework between UIA and Chambers of Commerce for coordinated investment deals.
