President Yoweri Museveni courted investors from Algeria during a visit to the North African nation last week.
Following several meetings with Algerian business leaders and government officials, Museveni highlighted the investment opportunities available in Uganda’s growing economy.
Museveni said Uganda presents an attractive environment for foreign direct investment. He noted Uganda’s political stability, strategic location near East African trading partners, and young population that offers a ready workforce.
The president emphasized his government’s commitment to fostering private sector growth through policies aimed at easing doing business. Several sectors were highlighted as prime areas for Algerian companies to consider investing in Uganda.
These included agriculture, oil and gas, manufacturing, infrastructure, and information communication technologies.
Meanwhile Uganda hopes to partner with Algerian firms in developing agricultural production and processing facilities. There are also opportunities for joint ventures in building roads, rails, airports and other transport infrastructure to support Uganda’s development goals.
However Algerian investors responded positively to Museveni’s pitch. The chairman of Algeria’s Business Leaders Forum said they see potential for win-win partnerships between private companies in the two countries.
He cited Uganda’s market size and proximity to other large economies as advantages. Several business delegations agreed to visit Uganda in the coming months to explore investment possibilities on the ground.
Furthermore, Museveni expressed confidence that the visit would lead to increased trade and investment ties between Uganda and Algeria.
He assured potential investors that they will find Uganda to be a stable and business-friendly location with good returns. The president stated his government stands ready to facilitate and support productive engagement between Algerian capital and Uganda’s transformation agenda.
