Minister Oryem Rallies India’s Jaipur Investment Community to Invest in Uganda

The Minister of State of Foreign Affairs, Okello Oryem has wooed Indian Investors from the city of Jaipur in Rajasthan State to take up investment in the vast investment opportunities in Uganda.

The Minister made the call while presiding over the official opening of the Uganda-India Investment Road show that was organized in Jaipur city by the High Commissioner, Grace Akello.

The Uganda-India Hybrid Road Show was organized under theme; “Fostering closer collaboration for mutual benefit”.

Oryem expressed confidence that the investment Road show marks the beginning of fostering closer relations with the business community from Jaipur.

 Oryem said that Uganda and India enjoy warm bilateral relations with several areas of historical cultural linkages with extensive economic and trade interests which is estimated at $1.3 billion.

“Our two leaders have made several exchange of visits with the last being the visit of Prime Minister Narendra Modi to Uganda in 2018. India has consistently remained one of the top investors in Uganda with exports from India reaching 1.2 billion dollars,” Oryem said.

The Minister reiterated that the Ministry of Foreign Affairs of the Republic of Uganda is currently prioritizing Commercial and Economic Diplomacy in all its engagements.

“We believe this new focus will lead to socio economic transformation of our country, and deepen our relations with India. I am informed that, the state of Rajasthan has a vibrant economy in the areas of mining and mineral processing, ICT and tourism,” Oryem noted.

He assured the Indian investors of Uganda’s strategic location that would allow them to trade with the neighboring countries under the East African Community, COMESA and AfCFTA.

“I am proud to say that Uganda is one of the fastest growing Countries in the region.  All Sectors of the Economy are fully liberalized for investment, and foreign investors are allowed to own 100% shares of their companies,” Oryem noted.

He added that, “We have a liberalized foreign exchange regime, which enables investors to repatriate all their profits. In addition, so whatever area you invest in, you will find readily available markets in the country, the region, and elsewhere.”