President Yoweri Museveni has arrived in the Rwandan Capital Kigali for a two-day investment summit.
The summit which is organized by the Global African Investment COMESA and the Government of Rwanda is being hosted by the President of the Republic of Rwanda Paul Kagame and is aimed at promoting investment in a various sectors including: education, ICT, development and the economy.
The President who travelled by road from Kabale to Kigali, was received at the Rwanda border by the Minister for Infrastructure Development James Musoni and other Rwandan officials and Uganda’s High Commissioner to Rwanda Richard Kabonero.
In Kigali, the President was received by Frank Mugambagye, Rwanda’s High Commissioner to Uganda, Uganda’s Minister for Information and ICT Frank Tumwebaze and State Minister for Investment, Evlyne Anite.
President Museveni has indicated his commitment to developing foreign direct investment and international participation in the social and economic development of the Great Lakes region, saying “This is the right time and Uganda the right place because of the big East African market and vast profitability opportunities now available.”
Museveni has consistently urged investors to regard Uganda and Africa as a crucial investment destination because of steadily increasing purchasing power and growing market.
According to the 2016 Foreign Direct Investment (fDi) report, foreign investment into African projects increased by 0.6 per cent in 2015.
The summit, which is focused on achieving tangible outcomes, will be attended by representatives from pension funds, asset management organizations, private equity and sovereign wealth funds, and will be a key factor in the growth of investment in the continent.