Paris Hosts First-Ever Uganda-France Investment Summit to Boost Trade and Tourism

The inaugural Uganda-France Investment, Tourism, and Trade Conference commenced today at the Cercle D’Aumale in Paris, marking a significant step in strengthening economic and commercial diplomacy between Uganda and France. The event, organized by the Uganda Embassy in Paris, runs until February 20 and aims to foster investment, trade, and tourism partnerships.

The conference seeks to attract French investors, business leaders, and government officials by showcasing Uganda’s vast opportunities in agriculture, manufacturing, renewable energy, and ICT. Additionally, Uganda’s rich tourism potential, including its wildlife, landscapes, culture, and eco-tourism prospects, is prominently featured.

Permanent Secretary of the Ministry of Foreign Affairs, Bagiire Vincent Waiswa

Leading Uganda’s delegation are Permanent Secretary of the Ministry of Foreign Affairs, Bagiire Vincent Waiswa, Permanent Secretary and Secretary to the Treasury, Ramathan Ggoobi, Uganda Investment Authority (UIA) Executive Director Robert Mukiiza, Uganda Revenue Authority (URA) Commissioner for Customs Abel Kagumire, and Uganda Tourism Board (UTB) CEO Dr. Lilly Ajarova.

In her opening remarks, Uganda’s Ambassador to France, Doreen Ruth Amule, highlighted the importance of strengthening trade relations to boost Ugandan exports and support French businesses entering Uganda’s markets. “We aim to create a collaborative platform where stakeholders from both countries can explore investment opportunities, build sustainable tourism partnerships, and strengthen trade networks,” Amule said.

Permanent Secretary and Secretary to the Treasury, Ramathan Ggoobi (2nd R) stresses a point during the summit

Speaking on behalf of the Minister of Foreign Affairs, Bagiire emphasized Uganda’s strategic position for investment in agro-industrialization, tourism infrastructure development, mineral development, and science, technology, and innovation. He invited investors to tap into Uganda’s favorable business environment, noting the country’s year-round conducive climate, fertile soils, abundant mineral resources, and access to the 300 million-strong East African Community (EAC) and 600 million-strong Common Market for Eastern Africa (COMESA).

“There is a track record of French investment in Uganda, with French companies as the leading private investors. Over 40 French companies are currently operating in Uganda, particularly in the oil and gas sector,” Bagiire noted.

Treasury Secretary Ramathan Ggoobi underscored the timeliness of the event, given Uganda’s Ten-fold Growth Strategy aimed at expanding the economy from $50 billion in 2022/23 to $500 billion by 2040. “We are sharing Uganda’s recent regulatory improvements, incentives, and infrastructure developments that lower the cost of doing business and make us a favorable destination for foreign investors,” Ggoobi said.

Uganda’s Ambassador to France, Doreen Ruth Amule

Robert Mukiiza and Abel Kagumire detailed government investment and tax incentives, while Lilly Ajarova spotlighted Uganda’s tourism sector, inviting film industry players from France, Spain, and Portugal to take advantage of Uganda’s scenic landscapes and affordable production costs.

On the sidelines, the two Permanent Secretaries met with executives of TotalEnergies to discuss the progress of the Tilenga segment of the East African Crude Oil Pipeline (EACOP) project.

Uganda-Tanzania Country Delegate Xavier Ecomard noted that of the $10 billion investment anticipated by TotalEnergies, at least 18% would directly benefit Ugandan businesses, with the project creating 18,000 direct jobs and 30,000 indirect jobs.