Uganda is banking on the forthcoming Non-Aligned Movement (NAM) and G77+China (G77) conferences in Kampala to attract at least $1b (sh3.7 trillion) worth of investments in various sectors of its economy
that were hit hard by the COVID-19 pandemic.
The sectors include energy, commercial agriculture, trade, infrastructure, mining, industrialisation, tourism and oil and gas.
Yesterday, the ICT minister, Chris Baryomunsi, told the media at the Office of the Prime Minister in Kampala that the investment deals are expected to be sealed in the East African Trade and Investment Forum, which the Government has organized to run concurrently with the summits.
The NAM summit will run from January 15-20 at the Munyonyo
Commonwealth Resort Hotel, while the G77 summit will run from January
20-23. Other hotels that have been identified to host the 5,000 guests
include Kampala Serena Hotel, Sheraton Kampala Hotel, Mestil, Lake
Victoria Serena in Kigo and Skyz in Naguru, Kampala.
Baryomunsi, who spoke on behalf of Prime Minister Robinah Nabbanja, said the forum will be held at the Kampala Serena Hotel. “The forum will bring together big investors from the East African Community (EAC) and beyond to
showcase and explore the investment opportunities in Uganda and other
EAC countries. We expect it to generate at least $1b worth of investment for
Uganda,” he said.
Baryomunsi also said they have mobilised Ugandan businesspeople
dealing in arts and crafts to sell the country’s unique products to visitors
and exhibitors.
“We have also mobilised traditional troupes to showcase Uganda’s rich
cultural heritage and mobilised tour and travel operators to transport
delegates to tourism attractions, such as the Nile and national parks,” he
said.
Baryomunsi, who was accompanied by security minister Jim Muhwezi
and National Resistance Movement (NRM) party deputy secretary general Rose Namayanja, said the level of completion of all the activities
in preparation for the summits was at 99.9%.
“We have over 100 confirmations of countries going to attend. So, this is a
great opportunity for us as a country, because all these guests will definitely
be spending and supporting our local economy,” he said.
Baryomunsi also said President Yoweri Museveni will use the summits to hold several bilateral meetings with the heads of state and governments to market Uganda and boost co-operation in various sectors of the economy.
Muhwezi said the Government has put in place all measures to ensure
the safety of the delegates and all Ugandans during and after the summits.
“Uganda is a secure country and security agencies will be doing their work to maintain the stability we have enjoyed since the NRM came to power
in 1986,” he said.
FACTS ABOUT NAM, G77
The membership of NAM, which was founded in 1961 to advance the interests of developing countries, is 120 states, 18 observer countries, and 10 observer organisations.
After the United Nations (UN), NAM is the largest grouping of states worldwide. On the other hand, the G77+ China was established in
June 1964 by 77 developing countries and now has over 130 member states, with its chairmanship rotating among member countries in Asia,
Africa and Latin America, based on regional principles.
Its member states account for more than 80% of the world’s population and over two-thirds of UN member countries.
It provides the means for the countries of the Global South to articulate and promote their collective economic interests, enhance their joint negotiating capacity on all major international economic issues within the UN system
and promote South-South cooperation for development.
China is not a member, but has been supporting and co-operating with the group under the framework of G77 + China.
