“Uganda Is The Most Attractive Country For Investment” Museveni Tells NAM Delegates

President Yoweri Museveni has taken center stage at the Non-Aligned Movement – NAM) summit, where Vice President Jessica Alupo delivered a speech highlighting Uganda as a prime investment destination.

The country’s stable political environment, robust economic growth, and a thriving market were emphasized, positioning Uganda as a beacon of stability amid global economic uncertainties.

Uganda’s $50 billion economy enjoys strong market linkages within the $305 billion East African Community (EAC), the continent’s fastest-growing and most diversified economic bloc. President Museveni emphasized Uganda’s strategic location, providing access to regional markets such as EAC, COMESA, and the Africa Continental Free Trade Area (AfCFTA), encompassing over 55 member states.

The President expressed confidence to NAM delegates in Uganda’s economic future, citing prudent macroeconomic management leading to low inflation (currently at 2.6%), a stable currency, and sustained high growth. The government’s commitment to supporting the private sector through favorable policies was underscored, with an emphasis on Uganda’s open trade policies and a liberal investment regime, allowing free movement of exports, imports, and capital.

President Museveni highlighted the country’s rich resource base and recent mining ventures, particularly in graphite for electric car batteries. He detailed Uganda’s generous incentives regime for investors, including free land, serviced industrial parks, cheap electricity, tax holidays, and other financial incentives.

“Uganda has a very generous incentives regime to ensure profitability of investments and business growth. This includes, among others, free land, serviced industrial parks and manufacturing zones, available and cheap electricity to manufacturers, good transport network, tax holidays for those adding value to our raw material and creating jobs plus other financial incentives. These are detailed in our tax laws and investment code,” he stated in a speech at the NAM Summit.

Uganda’s competitiveness in tradable goods positions it as an attractive destination for global investors. The President emphasized market access opportunities, with negotiated Quota-free and Tariff-free access to regional and global markets.

Notable markets include EAC, COMESA, AfCFTA, the European Union through an “Everything but Arms” trade deal, and trade deals with China and India.Furthermore, Uganda boasts an excellent working and living environment, rated as the 3rd most welcoming country and the 4th best country to visit globally.

With a low cost of living, quality housing, a growing workforce, and flexible labor regulations, Uganda offers a key advantage for companies investing in labor-intensive operations.”Uganda offers the lowest cost of living with excellent housing. Its fast-growing workforce and flexible labour regulations provide a key advantage for companies investing in labour-intensive operations.”