UGANDA OPENS UP ON MORE INDIAN INVESTMENTS.

President Yoweri Kaguta Museveni has said that Uganda is still open to more investments in different sectors.

He was officiating at the opening of Afro Indian Investment Summit 2022 together with the centennial 100 years celebration of Indian Association Uganda at Munyonyo Commonwealth Resort Hotel in Kampala.

His Excellency the President called upon more Indians to explore the business opportunities in Uganda.

He said former President Idi Amin’s expulsion of Asians from Uganda in 1972 not only disturbed the relationship between Uganda and India but also discouraged wealth creation.

At the same event there was a commitment of 169.5 Million USD set to be invested in Uganda starting in 2023.

Let on interest to invest this money were signed  at the Afro-Indian business summit at the Speke Resort Munyonyo.

The money  will be invested in various sectors including Mineral mining and value addition, Agro processing and value addition, information and communication technology among other.

The sign off was performed by various Indian owned company Directors and witnessed by The minister of state for Investment and Privatisation Hon. Evelyn Anite and other Dignitaries from Uganda, India, Iran and United Kingdom among others.

The President said this is why some Africans sort of stagnated because at independence, some of the African countries like Uganda and Ghana were ahead of others like Singapore due  of the bad attitude of the non-indigenous investors.

The conference also heard testimonies from First Generation Investors;Mahendra Mehta the Chairman Mehta Group of Companies, Kamlesh Madhvani of Madhvani Group of Companies and Dr. Sudhir Ruparelia -Trustee Indian Association Uganda and Chairman, Ruparelia Group of Companies.

President Museveni committed to provide a conducive social political economic environment for investment in the country.