East African Investors Urged to Seek Business Opportunities in Uganda’s Private Sector

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Kenya’s Deputy President William Ruto
has urged the East African business community to seek investment
opportunities in Uganda’s private sector.
Speaking in Kampala at a dialogue
event with Uganda’s business community, policymakers and opinion
leaders, Ruto discussed prospects for regional trade, integration and
cooperation.
“The East Africa Community (EAC) must
bolster trading with itself to increase earnings for its citizens,
create wealth and employment,” he said during the affair, which took
place over the weekend.
He added that the move will deepen integration and build muscle to negotiate with other economic blocs.
His sentiments came barely a day
after he received a 2018 Lifetime Achievement Award during an event
dubbed the Young Achievers awards ceremony in Kampala. Ruto was
accompanied by Uganda’s Prime Minister, Ruhakana Rugunda.
“Let us leverage on our young
people’s enthusiasm and energy to unleash new opportunities; open arenas
for discovery and achievement,” the Deputy President enthused.
“Africa is a rich continent that
values hard work, enterprise, craft and innovation, mostly associated
with the youth. To unlock their potential, we must give primacy to
science, technology, and technical education and place it at the
centerpiece of our transformation,” said Ruto.
Calling for greater cooperation
across the East African region, he stated that investing in commerce and
infrastructure must fit together with political goodwill to realize a
robust, cross-border trading regime.
He explained that these measures will help address youth unemployment, poverty and trade imbalance.
Ruto emphasized a raft of investment
opportunities across the region, ranging from agriculture to
manufacturing and cross-border trade.
Prior to his Uganda visit, the Deputy
President had highlighted Kenya’s potential as a preferred investment
destination. He mentioned the importance of vocational training in
creating the labor force of the future.
“We are creating a knowledge economy
that requires a skilled, competent manpower to generate wealth and
realise sustainable growth. That is why vocational training to equip
youth with technical know-how and practice is a priority,” Ruto said.
He later met with Uganda’s President, Yoweri Museveni at State House Entebbe, on August 19th, 2018.
“Continued collaboration in trade,
agriculture and capital investments will result in new, diversified
income streams and strengthen the two countries’ economies,” Ruto
concluded.