The Presidential CEO Forum (PCF), an initiative, has urged more private investors to invest in Northern Uganda, stating that it has a lot of potential to contribute to the growth of the economy of Uganda.
This was confirmed during the 5th Bi-Annual Private Sector CEO Retreat, which is taking place from September 13th to14th, 2024, at the Serena Hotel, Kampala.
PCF is an initiative by President Museveni to enhance private sector involvement in various local and international initiatives. It discusses trade opportunities, enhances commercial production, advocates for supportive policies, and fosters networking to boost business and government collaborations in Northern Uganda.
The CEO of PCF, Irene Birungi Mugisha, while officiating the conference, said it was high time Northern Uganda established its own unique model of development, based on its popular form of geographical setup.
“Our mission is to drive national productivity and inclusion by fostering effective coordination between the private sector and government. By focusing on industrialization and investment promotion, the PCF seeks to boost economic growth and ensure a more dynamic and inclusive economy. Time has come for Northern Uganda to establish its own unique model of development, based on its popular form of geographical setup, to support political and socioeconomic advancement,” she noted.
Dr. Omona Kenneth, the Minister of State for Northern Uganda, called upon private investors and the government to invest more in Northern Uganda, stating that it is one of the most blessed regions in the country.
“Northern Uganda has the best fertile and vast arable land in the country, accompanied by good weather conditions. There are also oil fields in some parts of Northern Uganda, like Nnoya. Northern Uganda also borders Congo and South Sudan, which have ready markets for the goods produced,” he stated.
Dr. Omona also said that although Northern Uganda has faced a lot of injustices in the past years, it is in a recovery mode and ready for more investments to better the lives of the people in the region.
“The past years have been a disaster to the Northern Uganda people, but through the good security provided by the government, the region has stabilized. We therefore call upon the government and private investors to support the region with agricultural machinery for better farming, value addition of the produce, irrigation systems, and reduced commercial lending rates for the farmers. With these, the region has the potential to contribute to the growth of the economy of Uganda,” he added.
The retreat is themed “Battle to Greenfield: Transforming Northern Uganda into a Commercialized Production and Logistical Hub for Exports.”
