The first ever Uganda-France investment, tourism, and trade conference has kicked off at the Cercle D’Aumale in Paris.
The event, an initiative by the Ugandan Embassy in Paris, is intended to enhance economic, trade, and tourism partnerships between Uganda and France.
It will run until February 20.
The conference aims to leverage Uganda’s strengths across multiple sectors by attracting French investors, business leaders, and government officials interested in exploring opportunities in trade, tourism, and investment.
It is also intended to promote investment in the key priority sectors of agriculture, manufacturing, renewable energy, and ICT to attract French investors and entrepreneurs.
The conference will also show-case Uganda’s tourism potential and present Uganda’s unique tourism offerings, emphasizing its wildlife, landscapes, culture, and investment potential in eco-tourism and hospitality.
In attendance from Uganda at the opening ceremony were the Permanent Secretary, Ministry of Foreign Affairs, Bagiire Vincent Waiswa, the Permanent Secretary and Secretary to the Treasury, Mr. Ramathan Ggoobi, the Executive Director Uganda Investment Authority, Mr. Robert Mukiiza, Commissioner Customs Uganda Revenue Authority, Mr. Abel Kagumire and the CEO Uganda Tourism Board, Dr. Lilly Ajarova, among others.
Uganda’s Ambassador to France, Doreen Ruth Amule said that the event would enhance trade relations and foster trade partnerships that increase Ugandan exports to France and support French businesses entering Ugandan markets.
“We would like to encourage Public-Private Partnerships (PPPs) engaging the French and Ugandan stakeholders in discussions that can drive sustainable growth and infrastructure development in Uganda,” said Amule
She noted that by hosting the conference, the Ugandan Embassy seeks to create a collaborative platform where stakeholders from both countries can explore investment opportunities, build sustainable tourism partnerships, and strengthen trade networks.
The Ministry of Foreign Affairs Permanent Secretary , Vincent Bagiire said that Uganda is strategically positioned, and
this gives an opportunity for investment in the key focus areas of agro-industrialisation, tourism infrastructure development, mineral development and science, technology, and innovation development (ATMs), where great concessions are granted by government.
He invited attendees to tap into Uganda’s favorable business environment including, the year-round conducive climate and fertile soils; abundance of mineral resources, the 300 million population of the East African Community (EAC) and the 600 million population of the Common Market for Eastern Africa (COMESA).
Bagiire emphasized that the conference provided an opportunity to engage with potential investors from France, Spain and Portugal to which the Uganda Embassy in Paris is accredited, adding that France has already demonstrated goodwill in the intensive level of investment it is putting into the Ugandan economy particularly in the oil and gas sector.
“There is a track record of French investment in Uganda, with French companies as the leading private investors. Over 40 French companies are operating in Uganda,” he said.
The Permanent Secretary and Secretary to the Treasury, Ramathan Ggoobi said that the event was timely since the government has set out to implement a ten-fold growth strategy whose aim is to expand the economy from $50 billion in FY 2022/23 to $500 billion by 2040.
He said investment conferences like the one in Paris would provide an opportunity to highlight Uganda’s business reforms.
“We are sharing Uganda’s recent regulatory improvements, incentives, and infrastructure developments that make us a favorable destination for foreign investors, by lowering the cost of doing business,” he said.
UIA Executive Director Robert Mukiiza, flanked by URA Commissioner for Customs, Abel Kagumire expounded on the government investment and tax incentives available to new investors.
CEO of the Uganda Tourism Board, Lilly Ajarova, said that the tourism sector, backed by Uganda’s unique wildlife, scenic landscapes, and diverse cultural heritage, offers vast potential for growth.
She invited French, Spanish and Portuguese film industry players to take advantage of the picturesque backdrops and comparatively low cost of labor, to shoot films on location in Uganda.
On the sidelines of the event, the two Permanent Secretaries also met with executives of TotalEnergies and discussed the progress of the Tilenga segment of the EACOP project, which is operated by TotalEnergies (56.6%), in partnership with CNOOC and UNOC.
Uganda-Tanzania Country Delegate, Mr. Xavier Ecomard said that of the $10bn USD anticipated investment by Total, at least 18% will directly benefit Ugandan businesses.
