President Museveni Urges Formation of One Market for Africa at Uganda-UAE Business Forum


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President Yoweri Kaguta Museveni, spoke at the Uganda-UAE Business Forum, emphasizing the crucial need for a unified market in Africa to facilitate the continent’s development. The event, taking place at Speke Resort Munyonyo from October 10 to October 12, 2023, under the theme “Uganda: Gateway of the UAE to the East Africa Community,” aimed to promote dialogue between the governments of Uganda and the UAE business community.

During his speech, President Museveni highlighted the African Continental Free Trade Area (AfCFTA) as a significant step towards achieving regional economic integration. He stressed that the presence of a single market is essential for Africa’s progress. The president further acknowledged that nationalization had been a mistake and emphasized the importance of reducing the cost of doing business.

President Museveni also touched upon ongoing efforts to address challenges related to railways and power. By prioritizing solutions to these difficulties, Uganda aims to foster a more conducive business environment.

Ashish Monpara, Managing Director of Modern Group, revealed that his company has already invested USD 200 million in the economy and expressed eagerness to contribute further.

The leader of the UAE delegation, H.E Raheed AbdulKarim Al Blooshi, participating in the forum, emphasized the UAE’s interest in long-term economic growth and emphasized their commitment to technology transfer as a priority.

The Uganda-UAE Business Forum acts as a platform for crucial discussions between governments and business communities, laying the foundation for unprecedented economic growth and mutually beneficial partnerships

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