Uganda-South Sudan Business Forum: Ugandans urged to invest in hospitality industry
JUBA– The Uganda-South Sudan first-ever business forum officially commenced on Tuesday in Juba as investors and traders from both countries sought to establish networks to provide goods and services to the citizens.
The forum was preceded by a dinner held Monday evening at the Palm Africa Hotel in Juba to welcome the Ugandan delegation.
Uganda’s Ambassador to South Sudan Gen. Ronnie Balya hosted the event, which was attended by the South Sudan Trade Minister Kuol Mawien, diplomats, and the private sector.
The business forum is running under the theme ‘Enhancing Bilateral Trade and Investment through Industrialisation and Infrastructure Development’.
The event is an initiative by Uganda’s Embassy in South Sudan, the Embassy of South Sudan in Uganda in conjunction with the ministries of Foreign Affairs and the private sector organisations from both countries.
South Sudan is one of Uganda’s major trade partners in the East African Community [EAC]. Exports from Uganda to South Sudan have increased at an annualized rate of 46 percent, from US$17.3 million in 2012 to US$ 357mln in 2020.
Stephen Asiimwe, Executive Director Private Sector Foundation Uganda [PSFU] spoke at the forum on Tuesday, urging Ugandans to invest in the hostel industry of South Sudan.
“South Sudan has the world’s second-largest Animal Migration. Yet, the hotel industry which is very essential for the tourism sector is still lacking in South Sudan because the majority of the hotels are only two or three stars. This offers an opportunity for Ugandan investors in the sector to venture into the industry,” he said.
Asiimwe said South Sudan has the export potential of wood in the rough worth about US$ 3mln and exports US$ 0.86mln to India. “The surplus could be exported to the Ugandan market,” he said.
“South Sudan has an export potential of US$ 42mln worth of Alfalfa meal and pellets yet it exports much of it [US$ 22mln] to other markets in Asia and Europe but not Uganda,” he added.
He said Uganda exports fish cuts and fresh to Japan, USA and France but that still has an untapped potential of over US$ 10mln worth of fish to be exported to other markets including South Sudan.
“Uganda has the potential of exporting US$ 500,000 worth of milk to South Sudan yet it exports only milk worth US$ 187.000,” he said.
“Our job as PSFU is business growth through evidence-based policy advocacy, Business Development Services, partnerships, opening new markets and strengthening the existing ones for our business community,” he said.
Meanwhile, Amb. Balya said Uganda exports to South Sudan are in the range of US$ 350mln – US$ 400mln, and South Sudan exports to Uganda are in the range of US$ 80mln – US$ 100mln. Before the war in 2013, Uganda exports to South Sudan were approaching US$ 1bln.
“Now that peace has returned to South Sudan, I encourage our people in Uganda to embrace this opportunity to expand trade and investment and focus more on Joint Venture Business in the various areas,” he said.
South Sudan has a population of slightly over 11mln people. South Sudan exports goods worth US$ 850mln and imports goods and services worth US$ 1.1bln,
Some of the expected outcomes of the business forum include credible first-hand information on trade and investment in both countries, a comprehensive understanding of regulatory frameworks, taxation, and legal regimes between both countries to ease trade, and an overview of investment opportunities for businesspeople.
The business forum, which ends tomorrow, is being held at Beijing Hotel, Juba.
https://thecooperator.news/gulu-constructs-new-road-to-link-farmers-to-south-sudan-market/
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