Amb. Richard Kabonero, the Head of Regional Economic Cooperation at the Ministry of Foreign Affairs, has emphasized that the Ministry’s strategic inclination towards commercial diplomacy is yielding resounding results citing that for the case of Uganda and Tanzania.
“The Standard Gauge Railway (SGR) Infrastructure in Tanzania i.e. the line from Dar es Salaam to Mwanza (through Lake Victoria) will reduce the cost of transport for businesses by 40%,” he noted.
The ambassador was speaking Thursday during the launch of the Second Uganda-Tanzania Business Forum at Kampala Serena Hotel.
The forum, organised by the Uganda High Commission in Dar es Salaam, will take place from 23rd – 24th May 2024 at Johari Rotana Hotel, Dar es Salaam Tanzania.
According to Amb Kabonero, the former High Commissioner of Uganda to Tanzania, the charge on trucks from Tanzania to Uganda has been reduced from USD 500 to USD 140.
“The Ministry continues to work closely in harmonizing this tariff, and many others, within the stipulated East African Community (EAC) regional costs framework.”
On his part, Amb. Elly Kamahungye, the Director of Regional and International Economic Affairs, said the government of Uganda has now prioritized the ATMS (Agro-business, Tourism Promotion, Minerals including oil and gas, Science and Innovation) as priority sectors.
He said the Ministry of Foreign Affairs and Missions abroad, therefore, have to prioritize these sectors.
“The forum will provide a platform to maintain the momentum of Uganda’s agenda in attracting Foreign Direct Investment (FDI) and increasing market access of Ugandan products to Tanzania and nearby countries,” he noted.
Amb. Col (Rtd) Fred Mwesigye, whose speech was delivered by Laura Kahuga, said Uganda and Tanzania share a long history of friendship and cooperation, and this forum presents a unique opportunity to build upon our existing bilateral relations.
“By leveraging each other’s strengths and resources, we can unlock new opportunities for growth and prosperity, not only for our economies but also for our people,” he noted.
“As we navigate the complexities of the global economy, the objective of this forum remains steadfast to attract investments between Uganda and Tanzania for sustainable and inclusive growth, industrialization, and job creation.”
The ambassador said the country has set sights on even greater achievements by prioritizing and highlighting opportunities in six sectors i.e. agribusiness to manufacturing, tourism to energy, oil and gas among others.
“The potential for collaboration in these sectors knows no bounds.”
Speaking at the event, Sarah Kagingo, the Vice Chair of the Private Sector Foundation Uganda (PSFU) Board, extended gratitude to their Excellencies Presidents Kaguta Museveni and Suluhu Samia for remaining seized with lowering the cost of doing business, and for the joint infrastructure projects, including the East African Crude Oil Pipeline (EACOP) for the oil and gas sector.
“We look forward to the forum in Dar es Salaam, and to the opportunity for Business to Business, Business to Government engagements. We hope to harmonise industrial policies, resolve existing non-tariff barriers, and ink joint venture partnerships to enable more business and trade with our Tanzanian counterparts,” she said.
Martin Muhangi, the Director for Investment Promotion, Uganda Investment Authority, said UIA will take the opportunity presented by the 2nd Uganda Tanzania Business Forum to promote key opportunities in; Agro value addition, Manufacturing, Mineral value addition for Oil and Gas, and Tourism.
“In the last 5 years, Uganda has attracted 12 key projects from Tanzania worth USD 474,191,143, with the prospective to create 7,465 jobs,” he noted.
He added: “Your Excellencies, ladies and gentlemen, Tanzania investors are classified as domestic investors, who are entitled to; ten (10) years tax holiday, access to land in Uganda’s gazetted Industrial Parks supported by infrastructure such as water, roads and electricity.”
