{"id":154192,"date":"2026-01-17T16:30:26","date_gmt":"2026-01-17T23:30:26","guid":{"rendered":"https:\/\/www.lankaweb.com\/news\/items\/?p=154192"},"modified":"2026-01-17T16:30:26","modified_gmt":"2026-01-17T23:30:26","slug":"23-sri-lankan-companies-secures-foothold-in-ugandan-economy","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2026\/01\/17\/23-sri-lankan-companies-secures-foothold-in-ugandan-economy\/","title":{"rendered":"23 Sri Lankan companies secures foothold in Ugandan economy"},"content":{"rendered":"

Courtesy The Daily Mirror<\/em><\/span><\/h2>\n\n\n

Colombo, January 17 (Daily Mirror) – Sri Lanka should eye more investment in Uganda as the  presidential race has concluded with a decisive victory for  President Yoweri Museveni, who secured 71.65 percent of the vote to earn a seventh term in office. Museveni, who first came to power in 1986, an official said.<\/p>\n\n\n\n

He has  remained a central and dominant figure in Uganda\u2019s political landscape for nearly four decades. His main rival, opposition leader Bobi Wine, received 24.72 percent.<\/p>\n\n\n\n

Commenting on the milestone, Sri Lanka\u2019s former  Ambassador to Uganda, Velupillai Kananathan, reflected on the country\u2019s long political journey and his own personal history with Uganda. I first moved to Uganda in 1986, the very year President Museveni assumed office,\u201d Ambassador Kananathan said. Since then, I have witnessed first-hand Uganda\u2019s transformation from a period of uncertainty into a nation defined by relative stability, economic ambition, and regional importance.\u201d<\/p>\n\n\n\n

In recent years, Uganda\u2019s economy has shown steady progress, with GDP growth averaging between 6 and 7 percent, placing the country among the faster-growing economies in East Africa. As Uganda enters a new phase marked by sustained growth and the commencement of oil production, citizens and observers alike are calling for partnerships\u2014both domestic and international\u2014that prioritize inclusive development, accountability, and long-term stability.<\/p>\n\n\n\n

Over nearly forty  years in power, President Museveni is credited by supporters with steering Uganda from years of instability toward peace and sustained economic growth. His longevity and influence have earned him a reputation among admirers as one of Africa\u2019s most enduring leaders. Critics, however, often describe Museveni as a blue-eyed\u201d leader of the West, a phrase suggesting preferential tolerance by Western governments. This perception is widely linked to Myseveni\u201ds strategic role in regional security, particularly in the Great Lakes region and the Horn of Africa.<\/p>\n\n\n\n

Ambassador Kananathan noted that political stability has been a key factor in attracting foreign investors. Consistency in leadership and policy direction has given investors the confidence to plan long term,\u201d he said. Uganda has positioned itself as an open and welcoming economy, and this has translated into tangible opportunities for countries like Sri Lanka.\u201d<\/p>\n\n\n\n

Sri Lankan businesses have significantly benefited from Uganda\u2019s investor-friendly environment, with at least 23 Sri Lankan business establishments currently operating across the country. These enterprises have found Uganda to be a stable and attractive destination, particularly in the renewable energy sector.<\/p>\n\n\n\n

Notably, Sri Lankan firms have emerged as key players in mini hydropower generation, solar energy, and rural electrification projects\u2014sectors that are critical to Uganda\u2019s development agenda. <\/p>\n\n\n\n

The success of these ventures is widely attributed to policies implemented by the Government of Uganda under President Museveni\u2019s leadership, including investment protection frameworks, support for public-private partnerships, and reforms aimed at improving the ease of doing business. According to Ambassador Kananathan, These policies have created an environment where foreign investors can operate with confidence and contribute meaningfully to national development.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Courtesy The Daily Mirror Colombo, January 17 (Daily Mirror) – Sri Lanka should eye more investment in Uganda as the  presidential race has concluded with a decisive victory for  President Yoweri Museveni, who secured 71.65 percent of the vote to earn a seventh term in office. Museveni, who first came to power in 1986, an […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-154192","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/154192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=154192"}],"version-history":[{"count":1,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/154192\/revisions"}],"predecessor-version":[{"id":154193,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/154192\/revisions\/154193"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=154192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=154192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=154192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}