EEAS – European Union
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The 3rd Uganda-EU Business Forum (UEUBF), a significant summit aimed at fostering collaboration between the European Union (EU) and Uganda’s private and public sectors, witnessed a remarkable turnout with over 3,600 individuals attending the first day. The event, held at Speke Resort Hotel in Munyonyo, Kampala, marks the largest and most influential joint gathering between Uganda and the EU focused on business and investment opportunities.
EU Ambassador to Uganda, Jan Sadek, expressed satisfaction with the turnout, noting the diverse representation from EU member states such as France, Germany, Italy, and others. In his address during the official opening on Tuesday, March 5, Sadek extended a warm welcome to all attendees, emphasizing Uganda’s status as the “Pearl of Africa.” He highlighted the forum’s objective to facilitate structured collaboration and promote trade and investment between European and Ugandan stakeholders.
The overarching theme of the UEUBF is “Boosting Trade and Investments,” with a sub-theme focusing on “What can Uganda gain from the global gateway?” This strategic focus underscores the importance of enhancing economic ties and leveraging global opportunities for mutual benefit.
As part of the forum’s agenda, 40 Ugandan products and business ideas are being showcased to attract EU investments. Sadek emphasized the goal of increasing EU investments in Uganda, supporting EU investors operating in the country, and enhancing Ugandan exports to the EU market.
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Highlighting the EU’s significant contribution to Uganda’s economy, Sadek noted that EU’s share of foreign direct investments (FDIs) in Uganda exceeded 40% in 2022, amounting to euros 1.2 billion. Additionally, bilateral trade between the EU and Uganda reached euros €1.5 billion, demonstrating the strong economic ties between the two parties.
Myriam Ferran, the deputy director general at DG International Partnerships, European Commission, provided insights into the EU’s Global Gateway initiative, which aims to address the global investment gap in a sustainable manner. She emphasized the EU’s commitment to promoting investments through attractive financial conditions and sustainable development practices.
Uganda’s Vice-President, Jessica Alupo, underscored the importance of leveraging the UEUBF platform to facilitate business-to-business and business-to-government engagements. Represented by Trade, Industry, and Co-operatives Minister Francis Mwebesa, Alupo urged participants to explore investment opportunities in Uganda, as well as the broader East African and global markets, fostering economic growth and prosperity.
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