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The Private Sector Foundation of Uganda is poised to gain advantages from the East African Trade and Investment Summit, held alongside the 19th Non-Aligned Movement (NAM) Summit. Scheduled to take place at the Kampala Serena Hotel from January 15-18, 2024, under the theme “Unlocking East Africa’s Potential on the Global Stage.”

The business community under the Private Sector Foundation of Uganda (PSFU) is set to benefit from the business summit, running on the sidelines of the 19th Non-Aligned Movement (NAM) Summit.

The summit, called the East African Trade and Investment Summit, at the Kampala Serena Hotel from January 15-18, 2024, under the theme Unlocking East Africa’s Potential on the Global Stage, is aimed at creating an environment where the business community among the NAM member countries can learn from each other but also get find opportunities in Uganda, that they can invest in.

This was revealed by Uganda’s permanent representative to the United Nations, and deputy chair organising committee of the NAM and G77+China (Third South) summits, Adonia Ayebare.

Ayebare explained that to make the summit more profitable, the organising team joined forces with members of the East African Community for all to benefit.

He added that the summit has attracted the business community in the region and the chambers of commerce from NAM member states looking for new investment destinations.

“We organised it as East Africa so all these investment agencies in the region will have a pitching day at this summit. And each country will have a day to pitch their business ideas and interact with investors of their choice” Ayebare added.

From this particular summit, Uganda hopes to attract close investment deals worth $ 800 million (about sh3.036 trillion) of the quality of companies from member countries that have already shown interest.

PSFU executive director Steven Asiimwe added that at the summit, there will be deals in joint ventures, among other opportunities.

“For Uganda, we want to position the country as the best investment destination and also tourism country in the region. This forum is an opportunity for Uganda’s private-sector players to showcase their products on a global stage, network with top international investors, and leading innovators in Manufacturing, Tourism, ICT & Agriculture,” Asiimwe said.

Ugandans will benefit from the visitors indirectly through the provision of services such as the travel sector, business sector, food industry, and entertainment among others.

The summit, which will allow each member country to pitch business ideas, will be graced by some heads of state and will be closed by President Yoweri Kaguta Museveni, according to NAM and G77+China summit organisers.