By Charles Katabalwa/Julius Mugaga-Umoja Standard.
Kampala, Uganda: The summit has been organized by the Private Sector Foundation Uganda in partnership with Uganda Investment Authority, Ministry of Foreign Affairs and Honorary Consul of the Socialist Republic of Vietnam in Uganda.
The summit will run under the theme *Unlocking Investment Opportunities* .Small and Medium Enterprises (SMEs) business advised to embrace it more.
The state Minister for Trade Hon Harriet Ntabazi while addressing journalists today at Uganda media centre revealed this summit has come at good time when Uganda is looking for wide markets of it’s goods as well as investors to invest in Uganda for creation of jobs to energetic youth in the country.
As Trade ministry we are going to use this summit to convince investors from Vietnam to come to Uganda for investment as well as convincing vietnam government to accept Ugandan products to it’s market although it has been existing before but on small extent and delegation of over 100 business people led by His Excellency the president of Uganda Yoweri Kaguta Museveni will grace the summit ” say minister.
“The Business Summit and Exhibition planned is the first-ever trade event between the two countries and the summit will provide a unique platform for the business community, investors, financial institutions, and the public sector to create closer cooperation in economics, trade, investment, financial banking services and tourism” says Ntabazi
Among the objective of the summit include, accelerate Uganda-Viet Nam trade and bilateral relationships to enable close business engagement between the business communities and attract investment into the country.
To provide a platform for networking, learning, and sharing trade opportunities with the Social Republic of Vietnam.
To identify strategies in which Uganda can position her products in the Vietnam market.
Highlight high-priority sectors for development investment opportunities of mutual benefit for the two countries.
To attract potential investors and joint partnerships between Uganda’s private sector players and Vietnam. To enhance bilateral relations with Vietnam.
To visit and benchmark key industries for lessons and best practices.
on the same press event Honorary Consul of Vietnam to Uganda H.E King Caesar Mulenga has revealed that the summit will see Increased investment in the Agro-processed and Manufactured sector which will in turn lead to increased exports for especially coffee, cotton, and horticulture (Value and Volume).Increase investments in the service sector of finance, ICT and Tourism. Awareness of trade opportunities of mutual benefits Signed deals and Memorandum understanding.
The Government of the Republic of Uganda and the Socialist Republic of Viet Nam have enjoyed almost 50 years of bilateral cooperation.
This relationship has been revitalised with the appointment of the first Honorary Consul of Viet Nam in Uganda in 2017, The establishment of the Counsel to Uganda presents a great opportunity to promote trade, investment opportunities and tourism in the country.
According to UN COMTRADE, the total trade between Uganda and Viet Nam was at US$49.2 (imports) and US$9.34 million (exports) in 2022. Uganda’s main exports to Vietnam include edible fruits, nuts, peel of citrus fruit, melons coffee while she imports textiles, electronics, and electrical equipment.