President Yoweri Museveni told Turkish investors that they made the right decision by taking a bet on Africa, noting that there are multiple investment opportunities to tap into.
"Uganda and Africa, in general, are so rich, everything is here. This is Paradise. Therefore, for investors who wish to tap into Uganda’s potential, this is the right place and it is the right time," the president tweeted Friday, referring to the Uganda-Turkey Investment, Trade and Tourism Summit that commenced Thursday and ends today.
The president opened the summit, which has also attracted the Turkish Deputy Minister of Trade Riza Tuna Turagay who led a team of government officials and a high power business delegation.
"I thank the Uganda Investment Authority, the Ministry of Finance, the Embassy of the Republic of Turkey, and the Foreign Economic Relations Board of Turkey (DEik) for organizing this summit," Museveni said.
The trade volume between Uganda and Turkey increased to $71m (2021), up from US$63 million in 2020. In 2021 alone, Turkish exports to Uganda increased by 26% & Uganda’s exports to Turkey increased by 418%.
"We have so much capacity, what is disturbing us is mainly value addition. Uganda and Africa, in general, are so rich, everything is here. This is Paradise. Therefore, for investors who wish to tap into Uganda’s potential, this is the right place and it is the right time," said Museveni.
'"Investing in value addition here will reap profits, we have all conditions to facilitate that; 77% literacy rate, a robust young and trainable population, a unique climate, and thanks to the Uganda Investment Authority, it is now possible for investors to get their licenses in less than 24 hrs."