Impact on the East Africa Chamber of Commerce Trade and Investment summit – TexasIsaac Nsengiyunva
The 16th Annual Trade and Investment Conference was held between the 7th and 9th of October, 2021 at the Marriott Hotel-Las Colinas in Irving, Texas (USA) with the aim of facilitating business-to-business linkages and market opportunities by informing the diaspora about the prospects for investment in countries of East Africa.
Expos like this one bring good news regarding progress with Uganda, the East African region and the entire African continent with an experience that expedites trade and investment between the outside world and this region.
At the expo, Uganda was represented by the First Deputy Prime Minister and Minister of East African Affairs, Hon. Rebecca Alitwala Kadaga.
Rt. Hon. Kadaga presented Uganda’s updates and industry-specific information, highlighting opportunities for investment, and fostering networking between businesses and investors particularly from North America. This is part of the vision of the East Africa Chamber of Commerce as regards advancing the social and economic development relationship between businesses and governmental agencies of East Africa and the US.
It should be noted that two back to back expos of a kind have been organised with the interruptions of COVID-19 pandemic on the global economy. It is therefore incumbent on every Ugandan to make full use of established industries and such opportunities to increase household income and promote efficiency in production while regional bodies and their entities like the EACC strengthen the harmonisation of trade policies, investment incentives and product standards, with a view to achieve social and economic developmental goals.
In the FY 2020/21, Uganda collected net revenue of UGX 19,263.00 billion and posted a growth in revenue of 14.99 percent in comparison to the FY 2019/20 and an estimated tax to GDP ratio of 12.99 percent.