A discussion on bilateral trade and investment between Nepal and Uganda was held in Kathmandu in the presence of Uganda’s newly appointed Ambassador to Nepal, Joyce Kakuramatsu Kikafunda.
The discussion was organized by the Asian Institute of Diplomacy and International Affairs (AIDIA). Speaking at the event, Ambassador Kikafunda, who recently presented her credentials to President Ram Chandra Paudel, highlighted many similarities between Nepal and Uganda. She encouraged Nepali businesses to invest in Uganda, noting that both countries have comparable per capita income and population.She also mentioned that Nepal and Uganda often share platforms in global forums.
Ambassador Kikafunda pointed out that Nepal is set to graduate from the group of least developed countries (LDCs) to a developing nation next year, while Uganda also qualified for this transition last year. She assured that Uganda offers a business-friendly environment, providing investors with free land for industrial setup, tax exemptions, and various other incentives.
She further emphasized Uganda’s globally popular coffee industry and expressed her delight in learning about Nepal’s growing interest in coffee.
Binaya Upadhyay, the honorary consul-designate of Uganda in Nepal and a businessman, stated that people-to-people relations between Nepal and Uganda are strengthening. He expressed hope for increased investment and trade between the two nations in the future.
More than two dozen industrialists and businesspersons from various sectors participated in Friday’s discussion, interacting with the ambassador regarding investment opportunities in Uganda. Entrepreneurs from the construction, tourism, and industrial sectors openly praised Uganda’s incentives for investors.
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