President Yoweri Museveni has reaffirmed Uganda’s commitment to fostering international trade and investment partnerships, particularly with Sweden.
The President gave the assurance as he hosted Mr. Benjamin Dousa, Sweden’s Minister for International Development Cooperation and Foreign Trade, at State House on Monday.
During their discussions, President Museveni highlighted Uganda’s favorable investment climate, noting that the country’s investment code offers a 10-year tax holiday for investors.
He also stated ongoing efforts to reduce electricity costs for manufacturers, targeting a rate of no more than US$0.05 per kilowatt-hour to make industrial production more competitive.
“We are working hard to enhance electricity production and improve infrastructure, such as the railway, to boost economic activity,” Museveni stated.
The President extended an invitation to European investors, urging them to collaborate with Uganda in key areas of economic cooperation, trade, and investment. He specifically encouraged Swedish businesses to explore Uganda’s investment opportunities, noting that Africa presents vast potential for mutually beneficial partnerships.
Mr. Dousa’s visit enhances Sweden’s growing interest in strengthening economic ties with Uganda, as both nations look to expand trade and development initiatives.
