KAMPALA, UGANDA – The East African business community will early next week (15-17) prospect with companies in Sweden for partnerships.
The region’s businesses will through a trade mission organised by the East African Business Council (EABC) and the International Council of Swedish Industries (NIR), assess the requirements for Swedish companies to engage in and collaborate with their East African counterparts in various projects.
Led by Mr. Ishaak Lukenge, EABC’s board member and director at the Private Sector Federation, the team of 16 key business persons from across the region will present investment opportunities within various sectors in the region.
“Sweden has achieved an enviable standard of living under a mixed system of high-tech capitalism and extensive welfare benefits. It has a modern distribution system, excellent internal and external communications, and a skilled labour force.
Timber, hydropower, and iron ore constitute the resource base of an economy heavily oriented toward foreign trade.
Privately owned firms account for about 90% of industrial output, of which the engineering sector accounts for 50% of output and exports.
Agriculture accounts for only 1% of GDP and 2% of employment,” information on the U.S CIA website says of the country with a population of slightly over nine million.
East African Business Week has learnt that the sectors to be prioritised during the trade mission include agriculture, handicraft and tourism.
The same delegation will hold meetings with the Swedish business community and also visit Helsingborg, a powerful industrial city located some 500 kilometres south of Stockholm, the capital.
