Uganda Seeking Investment For Development Of Raw Materials

Posted by: Kyeyune Andrew Jonathan in Uganda news July 31, 2023

In a move aimed at attracting new investment, the president of Uganda, H.E Yoweri Museveni recently reached out to his Serbian counterpart, President Aleksandar Vucic. He did this as an effort in seeking support from Serbia to push forward the development of Uganda’s economic plans.

He did this during the launch of the Uganda Trade Hub in Belgrade – Serbia.

Museveni called for collaboration in adding value to Uganda’s raw materials in order to increase revenue for the country.

“We need to add value to our agricultural products to enhance revenue generation for Uganda. I call on the Serbian Government to collaborate with us in critical sectors.” stated President Museveni.

They also held a round table meeting during the same period with Serbian business men and women. During the meeting, President Museveni reechoed the benefits of adding value to Uganda’s agricultural products to ensure high returns.

Furthermore, he urged the Serbian government to unite with Uganda in critical sectors to achieve this objective. President Aleksandar Vucic responded by pledging support to Uganda and this initiative.

One of the solutions he said would be direct flights between Belgrade and Entebbe. He proposed that Serbian Career Air Serbia would fly directly to Entebbe via a code share with Uganda Airlines.

If it goes through, it will enhance connectivity and cut down on logistical costs for the exporters.

To materialize this agenda, President Vucic committed to sending a Serbian delegation to Uganda in August.

“Serbian Career Air Serbia will fly directly to Entebbe via a code share with Uganda Airlines, strengthening connectivity and reducing logistical costs for exporters.” Stated President Vucic.

Badru Ntege, a board member of the Private Sector Foundation Uganda (PSFU) showed enthusiasm for the trade hub.

This move in Belgrade pushed local producers in Uganda to collaborate and establish consortiums that meet global standards needed to access this new market.

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