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UG Standard - Latest News
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Indian top investors in Uganda to explore investment opportunities

by JACKSON RUGUNDA | UG STANDARD REPORTER
08/04/2024
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Mr. Dammu Ravi  the Secretary  Ministry of External relations of India third from right is received at Entebbe Airport this morning.
Mr. Dammu Ravi the Secretary Ministry of External relations of India third from right is received at Entebbe Airport

A 30-member delegation comprising Indian firms in the Agricultural Sector, India’s Premier Institutes in Agricultural Research and Allied Industries like the Indian council of Agriculture Research (ICAR), the National Dairy Research Institute (NDRI) and Indian Institute of Millet Research (IIMR), among others, jetted into Uganda this morning.  The delegation is led by Mr. Dammu Ravi, Economic Secretary (Permanent Secretary in charge of Economic Relations) at the Ministry of External Relations of India.   They were received by senior officials from the Ministry of Foreign Affairs, including Uganda’s High Commissioner to India, Dr. Joyce Kikafunda.

The delegation is on a two-day tour of Uganda intended to take advantage of the excellent investment climate in Agro-industry. This visit also comes on the heels of a visit by Ms. Suja K. Menon, the Joint Secretary/Director General for the Ministry of External Affairs of India which took place from 28-29th February 2024. This visit is a follow up of the meeting that discussed financing of the Agricultural Sector particularly in the area of solar Irrigation systems and Transmission in the area of Energy/Power.

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The agricultural sector plays a central role in Uganda’s economy, generating some 24 per cent of the Gross Domestic Product (GDP) and accounting for more than half of the country’s export earnings (54%; World Bank, 2019). Almost 70 per cent of the working population is engaged in agriculture which also provides the first job for three-quarters of those aged between 15 and 24 years. 78% of the Ugandan population lives in “rural” areas where farming is the predominant economic activity (UBoS, 2016). At the same time, agro-processing is the backbone of the manufacturing sector accounting for approximately 60 per cent of its total output.

Speaking at Entebbe airport where he received the delegation, Amb. Elly Kamahungye, Director for International Economic Cooperation at the Ministry said “the visit is key because Agricultural value addition in the overall value chain is key because agriculture provides livelihoods for the vast majority of the population and generates the raw inputs needed to fuel a small, yet growing industrial sector dominated by agro-based manufacturing enterprises”.

While in Uganda, the delegation is scheduled to visit to the National Crops Resources Research Institute (NaCRRI) Namulonge to view an exhibition, Brookside Limited Uganda and the Namanve Industrial Park, to assess the level of partnership and collaboration, and plan for capacity building that could contribute to Uganda’s industrial growth stimulated by Agro-industrialization.

There will be a sector-wise Networking Business-to-Business event at Kabira country club with local businesses/trade chambers during which subjects like the Investment Climate in Uganda, Agriculture and Food Processing Industries, ICT, healthcare, Education, Automotive and Solar Energy will be discussed.

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