Permanent Secretary and Secretary to the Treasury Ramathan Ggoobi has called on the Ugandan Diaspora Community in France to be Uganda’s Trade, Tourism and Investment Ambassadors wherever they are, as there is no testimony as powerful as theirs. Ggoobi said this at a special gathering of Ugandan Community members, who convened at the newly renovated Uganda Embassy Building at 13 Avenue Raymond Poincare in the French Capital, Paris at the invitation of Uganda’s Ambassador H.E. Doreen Ruth Amule.
The Community, most of whom work in various sectors of the French economy from Sports to fashion, Science and Technology and the Culinary Arts expressed interest in how the Government of Uganda can facilitate their interest in investment back home in Uganda.
Flanked by a delegation from the Ministry of Finance, Planning and Economic Development, Uganda Revenue Authority, Uganda Investment Authority, Uganda Tourism Board, Mr. Ggoobi, who is on a 4-day working visit to France, informed the Ugandan Community that the Government would need the partnership of Uganda’s Diaspora “beyond remittances,” to implement the fourth National Development Plan and achieve Vision 2040.
“The Ministry of Finance has started the exercise of growing the economy differently by laying special emphasis on investment, whether small, medium or large in Agriculture, Tourism, Mineral Development and Science and Technology Transfer (ATMs)”, he said. “We are calling on the Diaspora to become marketing gurus in identifying and partnering with investors from France and increase imports of processed agricultural produce into France,” he added.
Referring to the Ministry of Foreign Affairs as “the sleeping giant that has awoken,” Ggoobi informed the gathering that in order to ensure that they are equipped with the tools and resources required to support the Diaspora, the Ministry of Finance had embarked on “Operation Revamp Embassies”. Mr. Ggoobi expounded on the Government’s plan to aggressively renovate and maintain Uganda Embassy Properties, improve staff remuneration and finance effective Consular Services. Coining the slogan “Markets, Investments, Tourism,” he shared that the Ministry of Finance would continue rolling out the Economic and Commercial Diplomacy Program from UGX 60bn in FY 2024/25 for 12 Embassies, to an additional 12 Embassies receiving funds in the FY 2025/2026. “In return, we expect to see a recovery of the asset base and staff welfare, a rise in export statistics from Uganda, an increase in Foreign Direct Investment to Uganda and an increase in the flow of tourists from places like France,” he said.
The Ugandan Community listened and engaged with the CEO UTB, Dr. Lilly Ajarova on the importance of maintaining a positive Brand for Uganda with the country’s unrivalled diversity and uniqueness across Africa. Mr. Mukiiza, Executive Director of the Uganda Investment Authority shared about the non-tax incentives available to Ugandans, Export information from the Uganda Export Promotion Board tax deductibles like training and capacity building and the pending unveiling of the Diaspora Bond in partnership with the Bank of Uganda. Mr. Abel Kagumire briefed them about the taxation liabilities and incentives that they could take advantage of in returning to or choosing to invest in Uganda.
Earlier in the day, Mr. Ggoobi met Mr. Gregoire Durival, Sales Director of the Sagemcom Energy Energy and Telecom SAS, Mr. Michael Guiraud, Sales Director of Airbus and officials of Satlantis, a Space Technologies Company based in Spain.
He is also expected to meet officials at BPIFrance and Eiffage Group to discuss available solutions to financing solutions involving French Companies and Head of the Multilateral Affairs, Trade and Development Policies Department (SAMD) at the French Treasury, Mr. William Roos.
