Uganda, DR Congo Eye Strengthening Trade and Investment Ties at Kinshasa Summit

Uganda’s Ministry of Finance, Planning and Economic Development through the Uganda Investment Authority (UIA) is organizing the first-ever Uganda-Democratic Republic of Congo (DRC) Investment Promotion Summit and Market Access Expo slated for June 27-29.

The Summit, under the theme “Uganda-DRC Investment Promotion and Market Access”, will be held in the Congolese capital city of Kinshasa.

UIA is working with ACOPA-ONGd, the Congolese liaison entity that promotes investment and cross-border business in eastern DRC.

The overall objective of the Summit and Expo is to promote and showcase investment opportunities, create networks and joint venture partnerships aimed at enhancing investment and market access between Uganda and the Democratic Republic of Congo, as well as to promote products manufactured in Uganda.

State Minister for Investment and Privatization Evelyne Anite said: “We are going to the DRC not for fun but very serious business of promoting investment and trade with Uganda. We are targeting five key sectors, namely, manufacturing, agriculture and agro-processing, services, real estate and trade.”

Minister Anite said the Summit is also aimed at promoting the formalization of informal cross-border trade between Uganda and DRC that has been going on for years.

The State Minister for Regional Cooperation John Mulimba said “the entry of the DRC into the East African Community family provides an opportunity to Ugandan investors to access new markets and opportunities for growth”.

He added: “The new EAC now offers a combined market-driven economy of 300 million people and a GDP of 243 billion dollars”.

The State Minister for Trade Harriet Ntabazi called on Ugandan investors and businesses to seize the investment and trade opportunities to make money and develop Uganda.

The UIA Director General Robert Mukiza said through the Summit and Expo, Uganda aims to attract a significant number of Congolese investors to come and set shop in Uganda, taking advantage of Uganda's strategic location in the heart of the EAC bloc, as well as popularize Ugandan products in the DRC and expand and deepen their market share.

Mukiza said the Summit also aims at attracting more Foreign Direct Investment into Uganda, as the investors would use Uganda's strategic location to access the expanded East African Community market of over 300 million people, from the Indian Ocean coast to the Atlantic Ocean coast.

Mukiza added: “We invite Ugandan investors and businesses to participate in this first ever Uganda-DRC Investment Promotion Summit and Market Access Expo because the dividends would be greater. Please register at www.ugandainvest.go.ug or call +256313301000”.

The Chair of the Board of UIA Morrison Rwakakamba said the DRC provides the best investment and trade opportunity for Uganda, pointing out a catalogue of Ugandan products that need to get traction into the huge DRC market.