President Museveni gives Keynote address at UK-Uganda Business Forum

Tuesday 6th May 2014

President Museveni, who is on a three day working visit to the United Kingdom, has today opened the UK-Uganda Business Conference at Lancaster House in London.

The President who arrived in the country on Monday is accompanied by the Minister of Foreign Affairs, Sam Kutesa, Energy Minister Irene Muloni, Finance Minister, Maria Kiwanuka, Works Engineer Byandala, Lands Migereko, Minister of Trade and Industry, Amelia Kyambadde, the Deputy Governor of Uganda, Dr. Kasekende, Honourables Fred Mwesigye and Stella Lamoe.

The conference was jointly organised by the Uganda Investment Authority and the Commonwealth Business Council.

Delivering a Keynote address to at the conference this morning, President Museveni explained that Uganda needs only investors with money.

"I have enough poor people in Uganda. Ugandans have invested in saloons and shops. Those need no foreign investment. We need only those who can invest in the crucial sectors of the economy," he said.

According to the President, the crucial investments include, boosting energy production, value addition to agricultural products, construction of dams, roads, modern railway and human resource development.

"Government officials need to make quick decisions to ensure that government policies are quickly implemented," he said referring to the importance of meeting project timelines.

With developed infrastructure, the President added, the economy continues to improve; investors will earn more money and profits and create more jobs for Ugandans.

President Museveni explained bottlenecks Uganda economy faced but added, "inspite of those bottlenecks our economy is registering impressive economic growth figures which means that if we overcame the bottlenecks the country would make more money”.

Addressing the same conference, British Minister for Africa told the meeting that his Government had got top of the range companies invest in Africa.

He pledged that his Government would work with Uganda Government. 

"Britain with investments of over 2bn pounds remains the largest cumulative investor in Uganda. We want to retain this position and increase Britain's investment inflows in Uganda," Hon. Simmonds said.

President Museveni has also met a number of executives from companies that want to invest in Uganda.

The President received the official copy of First Magazine from Rt. Hon. Lord Hurd of Westwell, former British Foreign Affairs Minister, who met all costs of printing for Uganda.

The magazine that highlights Uganda's Key business sectors was published to mark President Museveni's visit to the UK. 

Uganda's High Commissioner Professor, Joyce Kakuramatsi Kikafunda, thanked Lord Hurd for the gesture.

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