President Yoweri Kaguta Museveni has revealed that Uganda has become are more appealing destination for foreign direct Investment in the last financial year.
The Preaident’s revealation was contained in his state of the nation address on Wednesday, 7 at the Kololo Indeoendence Grounds.
Museveni revealed that Uganda’s investment climate remains competitive in the region and globally. Because of this, he indicated that investors willing to bring their money and invest here, have increased.
Partly partly attributed the trend to the stable and sound economic policies and the prevailing peace and security in the Country.
The president indicated that Foreign Direct Investment (FDI) inflows to Uganda continued to recover and reached US$ 945 million during the first six(6) months of this financial year 2022/23. This, he said is partly, due to increased financing to the Oil and Gas, as well as the Mineral Development Sectors.
In related development, Presidenr Muaeveni highlated Government’s commitment to scale up the country’s job creation potential through boosting industrialisation.
He noted that 22 industrial parks have been established in the different parts of the county as one of the strategies to spur industrialisation.
The Presidenr revealed that his Government plans to create as many as 2.5 million jobs through this strategy.
Currently, the Preaident notes that the country boasts of an impressive 4000 factories fully operational and distributed across the country.
These, he say have provided jobs to at least 150000 people, a move the Preaident says is in the right direction.
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