Museveni’s trip to Vietnam spot on

What you need to know:

“President Museveni and His delegation trip to Vietnam will result in exploring immediate, short and long term opportunities in the wider trade and investment sector.”

President Museveni and his delegation trip to Hanoi, Vietnam, for bilateral discussions with his counter part, President Nguyen Xuan Phuc creates immense investment opportunities for both countries to venture into different sectors of life. Under Mr Museveni, Uganda has undertaken its first unified diplomatic initiative aimed at advancing ties with Vietnam by desiring to have a close work harmony across several sectors.
Uganda’s trade and investment policies and the need to diversify its economic and strategic foreign relationships have attracted more partners to tap into Uganda’s market and its population. By signing those ties and commitments with Vietnam, particularly in trade and economic realm, Uganda hopes to strategically position itself regarding trade and commerce. Moreover, it hopes to advance its middle income desires by sustaining those ties with Vietnam in their ever-growing economic importance.

It is clear in the NRM’s past and current manifestos and other government poverty alleviation documents that the focus is on the three pillars of prosperity for all (economic cooperation and markets, peace and security (stability and free movements) and ICT (technology, science and innovation).
Uganda has initiated room for negotiations for free trade agreements aimed at attracting more partners from other countries to partake on the various investment opportunities in the different sectors.
The peace pillar, by contrast, has been strengthened and progress is visible with its diplomatic relationships not only in Africa , but across the globe.
Given the period NRM has stayed in power and its continuously growing need of foreign investors, it will have every reason to keep emphasising those regional partners and advocating for value addition to our locally-made products.

Mr Museveni’s ties with President Nguyen are central in cementing concrete relations for the two countries, from which we expect people to get jobs, taxes, exchange visits, technology, trade and investments. Through initiatives organised under pillars of prosperity for all, peace and security, and ICT, foreign policies seek to fulfil Uganda’s potential as middle power food basket in the region.
With such a breath of memoranda signed in Vietnam under the different projects in ICT, agriculture, energy, and trade, it is with no doubt that Ugandan foreign policies are attracting a wide range of investment opportunities.
The Museveni administration has made significant strides in improving government’s institutional apparatus to support trade, investment and regional cooperation beyond the African continent.

Uganda has many sectors in which investors can venture into such as agriculture, minerals, oil and gas , ICT, transport , hotel and tourism, as well as Education.
Uganda’s trade and investment policies have been identified as favourable but attracting slow but steady investment opportunities for the growth of the country.
President Museveni’s trip to Vietnam will result in exploring immediate, short and long term opportunities in the wider trade and investment sector, thus benefiting the human resources for the citizenry of the two countries.