By CHIMPREPORTS
By Happy Christine
Amidst the backdrop of economic cooperation and shared aspirations, Uganda and the European Union (EU) are poised to host the third Uganda-EU Business Forum (UEUBF), a landmark event set to galvanize trade and investment between the two entities. Scheduled to unfold from March 5, 2024, to March 7, 2024, at the prestigious Speke Commonwealth Resort Munyonyo in Kampala, the Forum stands as a testament to the enduring partnership between Uganda and the EU, marking a significant milestone in their journey towards economic prosperity.
With the overarching theme of “Boosting Trade and Investments” and a sub-theme delving into “What can Uganda gain from Global Gateway?”, this year’s Forum holds immense promise in unlocking new avenues for collaboration and growth. European Union Ambassador to Uganda, Jan Sadek, emphasized the transformative potential of the EU’s Global Gateway investment strategy, aimed at catalyzing sustainable development and inclusive growth in partner countries.
The participation of President Yoweri Kaguta Museveni as the Chief Guest, alongside EU-Deputy Director General for International Partnerships, Ms. Myriam Ferran, underscores the high-level commitment of both parties to fostering closer economic ties and exploring mutually beneficial opportunities. Their presence signals a shared vision of harnessing the Forum as a catalyst for driving economic transformation and prosperity.
Organized by the EU Delegation to Uganda in partnership with its Member States, and in collaboration with the Government of Uganda, the Private Sector Foundation Uganda (PSFU), and the Uganda Investment Authority (UIA), the Forum represents a collaborative endeavor aimed at fostering a conducive environment for business growth and investment. Hon. Evelyn Anite, State Minister of Finance for Investment and Privatization, lauded the EU’s decision to convene the Forum in Uganda, recognizing it as a testament to Uganda’s growing stature as a preferred investment destination.
Against the backdrop of global economic uncertainties, the Forum assumes heightened significance as a platform for fostering resilience and unlocking new growth opportunities. With a focus on key economic sectors such as Agribusiness, Sustainable Mining, Enabling Infrastructure, and Sustainable Tourism, the Forum seeks to attract European investors keen on tapping into Uganda’s vibrant and dynamic economy.
The EU’s status as one of Uganda’s leading development partners underscores its pivotal role in supporting Uganda’s development agenda through official development assistance, private sector investments, and trade. The Forum is expected to draw over 1500 participants, comprising representatives from various European nations, who will converge to explore potential avenues for collaboration and investment in Uganda.
Mr. Humphrey Nzeyi, Chair of the Private Sector Foundation Uganda, underscored the importance of leveraging Uganda’s trade advantages with Europe and emphasized the need for enhancing value addition and quality standards to maximize export potential. Similarly, Mr. Morrison Rwakakamba, Chair of the Uganda Investment Authority, highlighted the Forum’s role in showcasing bankable projects and attracting investments in critical sectors such as pharmaceuticals, edible oils, electronics, and agro-equipment.
As Uganda and the EU chart a course towards deeper economic integration and collaboration, the third Uganda-EU Business Forum serves as a beacon of hope, heralding a new era of economic growth, innovation, and shared prosperity. Against the backdrop of global challenges, the Forum stands as a testament to the resilience and dynamism of the Uganda-EU Partnership, underscoring the potential for transformative change and sustainable development.
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