By Frank Kamuntu
President Yoweri Kaguta Museveni has urged European investors to tap into Uganda’s growing market, emphasizing the country’s potential in agriculture, aquaculture and environmental sustainability.
During a meeting held yesterday at his country home in Irenga, Ntungamo District, President Museveni expressed concern over Europe’s dwindling investment footprint in Africa, contrasting it with the rising influence of Chinese investors.
“What happened to our relatives, the Europeans? Why don’t they come and invest?” he remarked, highlighting Africa’s projected population growth of 2.5 billion in the next 30 years as a lucrative market opportunity.
President Museveni also praised European ventures already established in Uganda, including liquid coffee production, avocado exports, and medical waste solutions, pledging government support to bolster these investments.
He also unveiled a strategic plan to restore degraded wetlands by relocating farmers to the peripheries for sustainable fish farming, before criticizing swamp rice cultivation for harming the Nile River’s tributaries.
President Museveni further reiterated his commitment to fostering foreign investments that contribute to Uganda’s economic development while ensuring environmental sustainability.
On the other hand, the investors welcomed President Museveni’s call for stronger economic ties.
Mr. Nico Van Vliet, representing the Uganda Flowers Exporters Association, noted, “We see great potential for growth, not only in the European Union but also in regional markets like Kenya and Ethiopia. We are committed to contributing more to Uganda’s economy.”
Mr. Eric de Waan, from Yalelo Uganda highlighted the vast potential in aquaculture.
“Uganda has the best conditions for fish farming, especially in Lake Victoria. We aim to invest $5 million annually to expand operations,” he said.
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