President Yoweri Kaguta Museveni has implored Italian investors to support Uganda through investing in the East African country.
“What we need from Europe is capital, not from the government but from the private sector which needs money in the form of profits. It’s a win-win formula,” he said.
The President made the appeal on Wednesday while meeting a delegation from Italy led by Ambassador Stefano Gatti, the Director General of the Italian Agency for Development Cooperation at State House Entebbe.
President Museveni commended the Prime Minister of Italy, H.E Giorgia Meloni for her quick response to his idea of sending a delegation to Uganda to identify investment opportunities in the country.
He told the delegation that Uganda has got a lot of natural resources, adequate labour and a lot of investment opportunities that need to be tapped into.
President Museveni also encouraged the Italians to invest in the manufacturing of veterinary drugs, vaccines and pharmaceuticals.
Ambassador Stefano Gatti informed President Museveni that Uganda is a new priority country for Italy’s development cooperation.
“Uganda is a new priority area for us and our mission here is to first of all respond to your first priority which is the coffee sector. Uganda is a key coffee country in the world and already we have private companies in Italy that invest in Ugandan coffee,” Mr. Stefano said.
He added that Italy has a climate fund, and they are willing to work with Uganda through this program to deal with the effects of climate change.
Mr. Stefano also noted that they want to collaborate with Uganda in the livestock and agro-foods businesses.
Mr. Stefano also revealed that they would like to invest in Uganda’s health sector.
