Museveni urges European investors to tap Uganda's opportunities
President Museveni highlighted infrastructure, energy, manufacturing, and agriculture as key sectors for European investment.
President Yoweri Kaguta Museveni has called on European investors to explore Uganda's economic potential, particularly in infrastructure, energy, manufacturing, and agriculture. He stated that investment in these productive sectors is key to expanding markets, creating jobs, and accelerating economic transformation. The President made these remarks today at State House Entebbe during a meeting with European Union Ambassadors and investors.
Museveni emphasized Africa's growing population and expanding market as a major opportunity for European businesses seeking investment and stronger economic partnerships. He noted that Uganda has learned from past challenges, including identity-based politics, and stressed the need for a stable political and economic environment that enables private businesses to invest. The President welcomed ongoing and proposed European investments, seeing them as a way to link Uganda's market with Europe's.
The President identified affordable electricity, railway transport, and accessible financing as key priorities for Uganda's manufacturing sector. He highlighted the Uganda Development Bank as an important source of financing for businesses engaged in productive activities and urged the European Investment Bank to channel more financing into strategic infrastructure like railways and electricity. Museveni also reaffirmed the government’s support for tax incentives, including a 10-year tax holiday for eligible manufacturing investments.
Why it mattersUgandan President Museveni is encouraging European investors to invest in key economic sectors of Uganda, aiming to boost job creation and economic growth.