Patrick Bitature has called upon the Belgian business community to invest in Uganda, saying the country is not only peaceful but that Belgium and Uganda have had a long history of relations at different levels.
“We as a country have worked hard over the years to ensure that our future is stable by ensuring peace and security,” he said.
Bitature, who is the chairman Simba Group of Companies made the remarks before the Belgium business community in Uganda at the second gathering of the Belgium Uganda Business Forum. The forum was held at the residence of the Belgium ambassador in Uganda.
He said the private sector in Uganda, to which he asked them to join, is developed and has a say in the budgetary makeup of the country’s national budget.
“We have a wish list as the private sector and 80% of wish list is taken into consideration in the budgeting process,” he said.
Bitature said Belgian business investments in the country are much welcome, expressing hope they will contribute in the reduction of unemployment, especially among the youth, who he said are sensitive and the biggest segment of the general population.
“The question is how we are we going to create the jobs and this is the challenge for most leaders today; it is no longer about food, shelter, but jobs,” he observed.
He advised that investment in areas that pose high demand will create instant jobs for the youth, noting that failure to address the problem will result in the onset of civil strife.
“Uganda has high investment potential in agribusiness, the banking sector, for instance, only 15% of the population has bank accounts; so the 85% is there waiting to be served, and government policies are fully liberalised,” he noted.
The Belgian ambassador to Uganda, Alain Hanssen, said the Belgium Business Forum, launched in May 2014, arose from observable increased trade relations between Uganda and Belgium, for instance, more or less 60 million euros in both directions per year, mainly in chemicals and pharmaceutical products from Belgium, mainly fish and coffee from Uganda.
“There are more and more Belgian business people in Uganda; some of them represent Belgian firms here, but most have the headquarters of their company here in Uganda.” He said.
The Belgium Uganda Business Forum, explains, Hanssen, aims at promoting trade and investment between the pearl of Africa and the heart of Europe.
“It will gather periodically business people from the two countries for a briefing by eminent personalities, exchange of information and networking cocktails. It will support business people visiting from Belgium with the aim of trade with Uganda and investments here,” he explained.
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