President Yoweri Museveni has called upon Ugandans in the diaspora to invest at home in order to drive socio-economic growth and harness diaspora resources for investment and trade opportunities.
The president was represented by the Vice President, Jessica Alupo, at an inaugural Diaspora Convention organized by Uganda’s Ministry of Foreign Affairs that took place from December 18-19, 2024, at Speke Resort Munyonyo. He called upon the Ugandan diaspora to engage in Uganda’s transformation journey.
“While partners play a role, Uganda’s development must be led by Ugandans. Nations thrive when their citizens take charge. Diaspora savings should be invested at home before seeking foreign investors,’’ said President Museveni.
The President emphasized that the production process relies on five key factors: land, labor, capital, entrepreneurship, and knowledge. While Uganda has abundant land and labor, he noted the need for the other three factors, urging that diaspora professionals can help bridge this gap to transform untapped resources into wealth and economic growth.
‘‘As of now, investment opportunities await in commercial agriculture, industries, services, and ICT,” President Museveni noted.
Minister of Foreign Affairs Gen Jeje Odongo praised the contributions of Ugandans abroad and emphasized the need for large-scale investments to enhance national development. He noted that remittances from the diaspora significantly support Uganda’s economy but called for a shift towards more substantial investment projects.
Permanent Secretary to the Treasury, Ramathan Ggoobi outlined specific sectors where diaspora investments could yield high returns, including affordable housing, tourism, digital transformation, capital markets, and export promotion. He mentioned government incentives like tax exemptions and free land for industrial development to encourage diaspora engagement.
