President Museveni has urged French entrepreneurs to invest in Uganda saying that the country has a conducive economic and political environment.
The President was today addressing over 50 investors at the Le Bristol Hotel in the French of Paris where he arrived yesterday for a 2-day working official visit to the country.
The entrepreneurs are part of the Movement of Enterprises of France (MEDEF), a federation that brings together 750,000 firms.
President Museveni told the business group that Uganda and Africa have a growing population whose purchasing power is on the rise, thereby offering offering a wide market.
“If you invest in Uganda, not only will you have 40 million people to sell products to but also an extensive market in the East African Community and the Common Market of Eastern and Southern Africa (COMESA) region,” he said. He said that East African Community (EAC), which comprises Uganda, Tanzania, Kenya, Rwanda and Burundi, has a market of 160 million people while COMESA brings the number to 700 million people.
“And the other day in Kigali, we were discussing a Common Market for Africa,” he told the investors, adding that it would create a market of 1.2 billion people.
President Museveni informed the business community in France that to facilitate investments, Uganda had fixed the basics like infrastructure, ensuring a good road network, ample electricity and was now moving into building a modern railway.
Another incentive, he noted, was the educated labour force, which is also easy to re-skill adding that the Ugandan society is not only transforming socially but also metamorphosing into a middle class status.
“We have worked on the issue of the workforce because of education. So it is easy to train them. I want you to come and create jobs for my people,” said the President.
He also informed the investors that Uganda has natural resources, like agricultural raw materials (coffee, cotton, live stock) minerals and petroleum, which can help them produce any agricultural product they want. He also said that because of the durable stability that Uganda has, and a strong political system, the country is easy to operate in adding that their business ventures will be safe.
On tourism, the President said Uganda has a unique climate, being located on the equator yet with a high altitude.
“Uganda is just one of about three places in the world with that unique feature. There is no point on the globe, which is as good as Uganda. This is not an exaggeration. I am just stating facts,” said Mr. Museveni.
Mr. Momar Nguer, who chairs the federation, thanked President Museveni for taking off to meet them. He urged his colleagues to invest in Uganda saying the Government of Uganda is committed to supporting them.