KAMPALA, UGANDA – In a bid to stimulate economic growth and development, President Yoweri Kaguta Museveni has intensified efforts to strengthen Uganda’s trade and investment ties with its diaspora community.
A recent meeting between President Museveni and his Senior Presidential Advisor on Trade and the National Resistance Movement (NRM) Diaspora, Mr. Kakuru Phillip, underscored the crucial role the diaspora plays in driving Uganda’s economic growth.
According to sources, the meeting explored avenues for increasing foreign direct investment (FDI) and addressing trade tariffs to foster a conducive environment for business. The two leaders also discussed strategies for harnessing the potential of the diaspora to stimulate economic growth and development.
The Ugandan diaspora community has been a vital source of income for many households, with remittances totaling over $1.4 billion annually. This influx of foreign exchange has contributed significantly to poverty alleviation and economic development.
President Museveni emphasized the importance of channeling these resources into Uganda’s economy, saying, “We are committed to finding more ways of channeling the vast resources and potential of the diaspora into Uganda’s economy.”
To achieve this goal, Uganda plans to organize strategic trade summits, which will provide a platform for policymakers, business leaders, and international stakeholders to engage with Uganda’s economic opportunities.
The country is also preparing to participate in the upcoming G20 Summit in November 2025, where it will highlight its readiness to engage with the world’s leading economies. This global engagement is expected to increase Uganda’s visibility, attract investment, and further integrate the country into global trade networks.
In addition, Uganda recognizes the need to modernize its infrastructure and trade policies to create an investment-friendly environment. By improving its business climate, the country aims to attract more investors and foster innovation and growth.
As President Museveni noted, “We are focused on building Uganda into a vibrant economy, and with the help of the diaspora and our trade initiatives, we will continue to attract global attention and investment.”
The Ugandan government’s efforts to strengthen trade and investment ties with the diaspora are expected to yield significant economic benefits, including increased foreign exchange earnings, job creation, and poverty reduction.
