Uganda’s government has called on the local Indian business community to act as ambassadors, encouraging more investors to explore opportunities in the country.
Speaking at the 10th-anniversary celebration of the Indian Business Forum (IBF) in Kampala, Deputy Speaker of Parliament Thomas Tayebwa praised the Indian community’s entrepreneurial spirit.
“The Indian community has a keen eye for business, and their entrepreneurial spirit has played a significant role in transforming our economy,” Mr Tayebwa said.
He noted that the Indian community’s ingenuity was evident when they became the first to package and sell water in Uganda, inspiring Ugandans to adapt, innovate, and develop various products.
Mr Tayebwa encouraged the Indian business community to invest in key sectors such as agriculture, tourism, mineral development, and science and technology.
With India now the world’s most populous country, he also challenged them to promote Uganda as a prime destination for Indian tourists and to encourage more Indian investors to establish industries in Uganda.
The government has set an ambitious target to expand Uganda’s economy from approximately $50bn to $500bn by 2040, with a focus on agro-industrialization, tourism, minerals development, and advancements in science and technology.
I officiated at the 10th anniversary of the Indian Business Forum in Kampala last evening. The Indian community has a keen eye for business, and their entrepreneurial spirit has played a significant role in transforming our economy.
Their ingenuity was evident when they became… pic.twitter.com/ActasQZ9LQ
— Thomas Tayebwa (@Thomas_Tayebwa) February 6, 2025
State Minister of Finance Evelyn Anite commended the Indian business community for their role in job creation and manufacturing.
“We shall continue to facilitate them because of their contribution to the country,” Anite said, encouraging Ugandan entrepreneurs to adopt the financial discipline and succession planning practiced by Indian businesses.
“The Asian community has strong financial discipline. Ugandans must learn succession planning to ensure business continuity,” she emphasized.
The Indian Business Forum has attracted investments worth $147m in 2022, with over 275 members across various sectors.
The Indian High Commissioner to Uganda, Upender Singh Rawat, highlighted the vast investment opportunities in Uganda, citing areas such as blockchain technology, electric cars, renewable energy, and climate change.
Rajesh Kumar, the Director General of IBF, pointed out that the forum has since attracted investments worth $147m (sh543.4b) in 2022 and commended the Government for the enabling environment.
He added that the objective of the forum is to improve the working relationship and the investing ground in Uganda.
“Over 275 members on board come from different sectors including Agriculture, construction, manufacturing, information Communication Technology (ICT), Tourism, Hospitality, Education, Transport and Logistics among others,” he said “Our objective is to strengthen partnerships and enhance Uganda’s investment landscape,” Kumar stated.
He noted that IBF boasts over 275 members across various sectors, including agriculture, construction, manufacturing, ICT, tourism, hospitality, education, transport, and logistics.
“Our impact is evident—Ugandans have been sponsored for studies and internships abroad. For business transformation, we must ensure a conducive environment to ease trade, attract investment, and promote exports,” he concluded.
Discussion about this post