By Andrew Irumba
Kampala: It is not doubtable that over the past 100 years since the arrival of the Indian Community in Uganda by Allidina Visram and the establishment of the Indian Association in Uganda, the Indian Community has registered great economic and social success in the country with investments and businesses spanning into agriculture, manufacturing, banking, hospitality and retail trade within Kampala capital city and other cities and districts of the country.
Now, it is out of the above background that the Ugandan Government has organized a Summit dubbed the Afro-Indian Investment Summit scheduled from 29th to 30th September 2022 at the Speke Resort Munyonyo to commemorate the Centenary of the Indian Community and Association in Uganda.
TheSpy Uganda has learnt that the theme of this summit will be, “Afro-Indian Investment Summit 2022: A centennial celebration of the Indian Community in Uganda”. The Chief Guest at the summit will be His Excellency Yoweri Kaguta Museveni, the President of the Republic of Uganda.
According to the Minister of State Finance, In Charge of Investment and Privatization-Hon Evelyn Anite, the summit will attract over 1000 investors carefully selected by the Uganda Investment Authority and the Indian Association in Uganda.
”Uganda and India have enjoyed warm and cordial bilateral relations since 1962. India remains a strong and reliable partner in Uganda’s quest for industrial development and overall economic transformation. It is estimated that Indians/ Persons of Indian Origin have invested more than USD 1 billion in the country during the last two decades,” says Anite adding; ”To further balance out a trade which is tilted in favour of India, the Government of Uganda is actively engaging India through its vibrant private sector to consider expanding its importation of products from Uganda.”
She says that the Afro-Indian Investment Summit aims to identify and attract new investment leads from India and the world; and promoting Uganda as a preferred investment destination in Africa, as well as facilitate engagements between potential investors and Ugandan business people.
The specific objectives of the Summit are:
1. Promote opportunities in the nine priority sectors- Agro-processing; Energy and Oil & Gas; Health; Industrial Park Development and Manufacturing; Real Estate; 1CT; Mineral Development; Tourism and Infrastructure.
2. Promote Uganda’s access to the Indian market- a population of over a 1.3billion, a GDP of 2.6 trillion USD and occupying a unique geographic position.
3. Showcase Uganda’s unique tourism and wildlife attractions for increased tourism receipts.
4. Enhance bilateral relations between Uganda and India.
5. Outline all the favourable markets, policies and incentives that Uganda has put in place for investment attraction.
6. Provide opportunities for joint ventures, partnerships, and B2B linkages between Indian and Ugandan investors and businesses.
7. Promote the textile industry and access to cheap machinery for fruit processing and other manufacturing.
Some of the participants of the Summit include; leading business companies from across the globe, FDI intermediaries, Government officials, opinion leaders, policy experts, Ugandan companies, and businesses are invited to participate and benefit from the investment opportunities that will be on offer through various Business to Business and Business to Government meetings.
