No. PR- 081
August 13, 2021
Uganda & India can work towards the development of MSMEs which will help in Job Creation & Generate Employment for the Youth of both Nations
Wildlife conversation and tourism; agriculture and agri-processing; women empowerment and MSMEs should be the focus areas of growth and investment between India and Uganda. Tamil Nadu has maximum MSMEs in India. Uganda and India can work towards the development of MSMEs which will help in job creation and generate employment for the youth of both nations mentioned Mr. Hans Raj Verma, I.A.S., Chairman & Managing Director, Tamil Nadu Industrial Investment Corporation in the in the Hybrid Roadshow on Investment and Business Opportunities in Uganda themed Uganda- India: Raising Flags for Economic Growth organized by High Commission of Uganda in association with PHD Chamber of Commerce and Industry (PHDCCI) at the ITC Grand Chola Hotel, Chennai.
Mr. Hans Raj Verma, I.A.S., Chairman & Managing Director, Tamil Nadu Industrial Investment Corporation discussed the initiatives undertaken by the Minister of Tamil Nadu in the development of the state. He mentioned that women empowerment has been a long backbone movement in the state which helps to support every level of the society leading to the sustainable long-term development of the state.
Talking about Wildlife conversation and tourism, he mentioned that India and Uganda can work towards the best practices of wildlife conservation and tourism that will help to generate employment. He further mentioned the need to advance the agri-technology and dairy development in Uganda that will help to empower farmers in Uganda leading to the economic development of the nation.
Mr. Madhusudan Agarwal, Honorary Consul, Mumbai while sharing his experience about Uganda mentioned that the country offers huge trade and business opportunities and, India is one of the top investment countries in Uganda. He mentioned the need for advancement in the areas like healthcare, education, tourism, and others in which Indian companies take part.
Mr. Francis Mewbesa, Hon’ble Minister of Industry, Trade and Cooperatives, Government of Uganda discussed the opportunities for growth and development between the two nations in the sectors like investment, trade, tourism, culture, technology, and human development. He apprised the deep-rooted historical relationship shared between India and Uganda that has increased in a multi-facet manner in the past years due to constant deliberations of the government and different industries leading to economic development and diversification of cultures. He discussed the various incentives and ease of doing business practices available in Uganda that will help the Indian companies to grow and prosper in Uganda.
Dr. Ruth Nankabirwa, Hon’ble Minister of Energy and Mineral Development in her deliberation highlighted about the a model of excellence in Sustainable Management and Utilisation of Energy and Mineral Resources and requested to create an enabling environment in order to attract investment in the development, provision and utilisation of energy and mineral resources. She mentioned that Energy is the prime mover of economic growth and prosperity. Uganda requires adequate, reliable and affordable energy to enhance sustainable development and we should contribute significantly to sustainable national economic and social growth to develop mineral sectors.
H.E. Ms. Grace Akello, High Commissioner of Uganda, while moderating the session deliberated about the business and trade opportunities available in Uganda and how Indian companies can take initiatives to grow their business in Uganda.
Mr. Martin Muhangi, Director, Uganda Investment Promotions Agency in his presentation discussed the geographical and economic outlook of Uganda and the nation’s investment in the areas of climate, providing investment opportunities, giving incentive regimes, and the process of setting up business in Uganda. He also discussed the key incentives offered by Uganda in the sectors like agriculture, manufacturing, tourism, human capital, and industrial parks.
Mr. C.K. Ndorere, Ministry of Industry, Trade and Cooperatives, Government of Uganda, discussed the SME sector’s development and growth in Uganda and their learning from the Indian SME sector. He explained the comparison of Institutional and legal frameworks for SMEs, their challenges amidst the pandemic.
Ms. Patience Rubagumya, Commissioner, Legal Services and Board Affairs, Uganda Revenue Authority in her presentation discussed the tax and import duty exemption available in Uganda in sectors like agriculture, manufacturing, transport, shipping, infrastructure, hotel, tourism, security, technology, health, and machinery, and medical. She mentioned that these exemptions will make the companies coming to Uganda across the world make their business profitable and sustainable for the long run.
Mr. Ernest N.T. Rubondo, Executive Director, Petroleum Authority of India in his presentation highlighted about the investment opportunities in Uganda’s oil and gas sector.He also highlighted investment opportunities across Uganda’s Oil and Gas Value Chain upstream opportunities ( Exploration & Field Development), Midstream Opportunities (Refinery, EACOP, Support Infrastructure) , Downstream Opportunities ( Construction, Bulk Transportation, Supply of Refined Petroleum Products and Fuel blending facilities and other linked opportunities ( Agricultural, Health, Housing, Transport, Tourism & Civil works ).
Uganda welcomes investors to the core and support areas of its oil and gas sector across the petroleum value chain, as well as to the other sectors of the economy which has a modern and comprehensive Policy, Legal, regulatory and Institutional Framework for its oil and gas sector. There are significant and lucrative opportunities for investment in the country’s oil and gas sector and Entrepreneurs from India are welcome to participate and invest in the oil and gas opportunities in Uganda.
Mr. Vinod Sarogi, Honorary Consul- Mumbai, apprised that Uganda has been an economically stable and geographically strategical country that is known as the pearl of Africa. The Nation is a mineral-rich country that is opening immense investment opportunities in the areas of agriculture, mineral, tourism, Agri machinery, milk processing, medical facilities, and infrastructure development.
Mr. Manmohan Agarwal, Ex Senior Vice President, Indian Industries Association highlighted about the pigments: A lucrative opportunity for Uganda’s SME. He said availability of cheap labour and land is favourable for light industries, the sector associated with pigments are makers of economic development of nation.
The session was attended by many industry stalwarts across the globe. PHDCCI’s session is supported by DLF India; Multani Pharmaceuticals; UFLEX; JK Tyre & Industries; Marble City; Paramount Cables; SMC Investments and Advisors; Blossom Kochhar Aroma Magic; Comtech Interio; DCM Shriram Industries; Radico Khaitan; R.E. Rogers India; Ajit Industries; Synergy Environics; Continental Carriers PVT LTD; Timberworkz; Jindal Stainless; P S Bedi & Co; IFFCO and Hindware.
PHD Chamber of Commerce and Industry