Nabbanja woos Japanese entrepreneurs to Uganda

Prime Minister Robinah Nabbanja has urged Japanese investors and the business community to take advantage of Uganda’s conducive environment to come and invest in the country.

Nabbanja told the investors that Uganda has a fully liberalised economy and that there is total political commitment by the government to ensure that trade thrives.

The Prime Minister made the remarks as Uganda held its first-ever Japan-Uganda Business Forum in Tokyo.

The main objective of the Uganda-Japan Business Forum is to strengthen Bilateral Trade, as well as promote and explore investment opportunities for the mutual benefit of both Countries.

While addressing the forum at Tokyu Hotel in Tokyo, Japan on Thursday, Nabbanja said that although bilateral relations between Uganda and Japan remain strong, the private sector needs to become active to make use of the cordial relationship between the two sister countries.

In response, Shinichi Nakatani, the State Minister for Economy, Trade and Industry in Japan who also attended the business forum said that Japan is open to dealing with Uganda.

Nakatani told the Prime Minister that the Japanese government through its agency, Japan International Cooperation Agency (JICA) has been supporting Uganda in many fields and will continue doing so.

At the event, Robert Mukiza, the director general of Uganda Investment Authority assured potential investors of a friendly investment environment in Uganda.

The business forum has been organized by the Ugandan embassy in Japan in collaboration with the United Nations Industrial Development (UNIDO) sector in Japan.

The theme for the Business forum is Boosting Economic Recovery and Enterprise Resilience Through Sustainable Business”.

Growing interests

Japan is one of the countries with growing interest in Uganda. According to online sources, there are currently billions worth of investments in Uganda, including the $90m dual-lane cable bridge which was constructed in Jinja through JICA.

Completed in 2018, the bridge forms part of the important Northern Transport Corridor of East Africa, which runs from the Port of Mombasa in Kenya through Uganda, Rwanda, and Burundi to the Democratic Republic of Congo.

 This route is vital for Uganda’s economy, as well as for Rwanda, Burundi and the Democratic Republic of Congo.

In addition to the bridge project, JICA is currently funding other key infrastructure projects in Uganda, to support the Ugandan Government’s priority of infrastructure development, as part of its development strategy: Uganda Vision 2040.

JICA is currently working on a project to upgrade the road connecting Atiak in northern Uganda and Nimule at the border with South Sudan, as well as a feasibility study to ease traffic congestion in the centre of Kampala City, through the construction of two flyovers at Kitgum Junction and the Clock Tower Junction.