A five day training on Strategic Investment and Export Promotion was undertaken by 16 participants from the UIA from 1st – 5th February 2016. The training was funded through the Government of Ireland’s Africa Strategy Implementation Fund.
The Africa Strategy emphasises the role that increased trade and investment can have in enabling African countries to generate more domestic resources for development. It also identifies Ireland’s priorities in Africa in the political, development and economic spheres.
Speaking at the handing over of the certificates, the Ambassador of Ireland to Uganda, H.E. Dónal Cronin, said:
“Ireland’s growth and development has been driven by a focus on producing for export markets and attracting strategic Foreign Direct Investment, as well as strong support for domestic small and medium enterprises. In Ireland, the foreign-owned sector supports and indigenous exporters support a total of 350,000 jobs. I hope that in the course of this week that the course participants have gained insight from our experience in Ireland and that the knowledge and skills gained will be used by you in attracting investment and creating employment opportunities which will ultimately benefit all Ugandans.”
The Ambassador thanked Mr Brendan McDonagh, the principle trainer from the UIA’s sister organisation, the Irish Development Authority (IDA), for making the trip to Uganda. He commended the efforts of UIA and looked forward to working with them in supporting the increasing number of Irish Businesses wanting to invest in Uganda.
The Executive Director, UIA, Eng Dr Frank Sebbowa, thanked Mr McDonagh and the co-trainer, Mr David Ofungi, from Dero Capital Uganda for sharing their expertise with the participants. Mr Ofungi had taken the UIA team through the development of bankable projects for investment, which are crucial in UIA’s new strategic direction of marketing bankable projects to targeted investors in the target FDI markets, Ugandans in the Diaspora, private equity and venture capital firms, as well as domestic consortiums.
‘We will also use the expertise gained during this training to develop viable projects targeted at potential investors from Ireland in order to increase trade and investment flows between the two countries thereby getting closer to closing the balance of trade deficit for mutual benefit’, said Eng Dr Sebbowa, in his remarks during the closing ceremony.
This training will further strengthen the relationship between both governments and UIA, specifically in the area of investment and trade promotion. UIA is the primary Investment Promotion Agency of Uganda in stimulating growth and productivity in the private sector.
Embassy of Ireland/Irish Aid
Plot 25 Yusuf Lule Road
Tel: +256 417 713000
Direct:+256 417 713117
Uganda Investment Authority
The Investment Centre, TWED Plaza
Plot 22B Lumumba Avenue
Tel: +256-414-301 000
Dir: +256-414-301 120