By Annet Nakanwagi and Leonard Kamugisha Akida,
KAMPALA
Ugandan first deputy prime minister and the minister for East African Community Affairs, Rt. Hon. Rabbecca Alitwala Kadaga has said that the forthcoming East African Business and Investment Summit, 2023 will significantly foster economic growth and regional integration within the East African Community.
Kadaga was represented by the minister of State for East African Community Affairs, Hon. James Magode Ikuya at the official unveiling of the East African Business and Investment Summit and Expo, 2023 at the ministry headquarters in Kampala on Tuesday July 25.
“The East African Business And Investment Summit of 2023 is the premier EAC economic forum where East Africa will chat out a common agenda to take trade to higher heights for increased prosperity of EAC,” she said
The summit is being sponsored majorly by the EAC through the ministry of East African Community Affairs in Uganda in partnership with the East African Business Council (EABC), and partners such as GIZ, Afrexim Bank, RSM East Africa,and Standard Chartered Bank.
The EABIS 2023 is slated for between 31 August and 1st September, 2023 at Speke Munyonyo. Themed; ” Private Sector Driven Regional Integration for Increased Intra-African Trade and Investment,”
In her remarks, the minister emphasized on the need for public – private dialogue which she says is not only fundamental in shaping a conducive business environment but also in fostering economic growth and deepening regional ties.
“The success of the African continental free trade area relies on active participation and collaboration from both the public and private sectors by creating an enabling business environment , we pave the way for increased investment and prosperity across our borders,” Kadaga noted
She reaffirmed governments’ unwavering commitment to promoting public – private dialogue as a key driver of economic growth.
“Public – private dialogue serves as a powerful mechanism to address challenges, identify opportunities and co-create policies that benefit all stakeholders,” she added
Speaking to journalists on the Expo, the Executive Director of EABC Johnbosco Kalisa said that the summit will pave the way for increased trade, investment and prosperity among the East African Community member states and the African continent.
“EABC will shape the future of business in the East African region,” he said.
Furthermore, Kalisa noted the regional economic resilience to economic shocks such as COVID-19 due to intra-regional trade. He says that the East African Community region could do better when the private sector and governments work together.
“Intra-regional trade has doubled despite the devastating impacts of COVID-19. We see an impressive growth trajectory with in the region now at 24 percent compared to 13 percent during the pandemic. This demonstrates that the region is very resilient to external shocks,” he said.
Over 700 delegates including stakeholders from the private sector, government, ambassadors, diplomatic missions, industrialists and investors from the region and around the continent, youth and women are expected to attend the summit.
