The Vice President of Uganda, Rtd. Major Jessica Alupo, has said that Uganda is ripe for investment and that it is the fastest-growing economy in Africa.
Alupo made these remarks while addressing the Ministerial Meeting of the 19th Non-Aligned Movement Summit (NAM) at Speke Resort Munyonyo Kampala, Uganda, on January 17, 2024.
According to Alupo, with its $50 billion economy, Uganda enjoys a market linkage of approximately $305 billion within the East Africa Community Economy, making it the fastest-growing and most diverse on the African Block.
“Uganda provides an affordable cost of living, coupled with excellent housing. Its rapidly expanding workforce and adaptable labour regulations present a significant advantage for companies investing in labour-intensive operations,” Alupo said.
She urged that the constitutional mandate for Uganda include a commitment to the principle of NAM, which has consistently been a fundamental cornerstone of Uganda’s foreign policy.
Alupo noted that the current geopolitical tensions and conflicts, including the ongoing disputes between Israel and Palestine, as well as Ukraine and Russia, are a cause for concern for everyone.
The current chairperson of NAM and President of Azerbaijan, Ilham Aliyev, said that despite existing and emerging challenges, they have managed to demonstrate that NAM is a strong, united, and efficient alliance of light-minded countries in the face of global threats and challenges.
“The Azerbaijan Chairmanship actively upheld justice and international law, aligning with principles and fostering collaborative efforts to enhance the movement’s effectiveness,” Ilham Aliyev said.
He stated that they have taken additional initiatives to broaden cooperation within NAM by extending into unexplored areas of common interest among member states, as experienced in the establishment of the NAM Parliament network in 2012.
He added that the protection of women’s rights and empowerment stand high on the NAM agenda.
“The Azerbaijan chairmanship organised a conference on empowering and advancing the rights of women as the first step towards the establishment of the NAM women platform,” IIham Aliyev said.
The 19th edition of NAM is on its third day of sessions, with the Ministerial Meeting officiated by Ugandan Vice President Jessica Alupo.