Following the President’s call during his visit in Qatar in April 2017, Ministry of Finance and Uganda Investment Authority received Mr. Fahad Al Kuwari a representative from the Ministry of Energy and Industrialization of Qatar government and Dr. Ahmed Al Kuwari the Director of Hassad Food Company to explore various investment opportunities in basically Agro processing and the energy sector.
The 2 delegates toured different projects in different districts namely:
- Electromax Power Energey Plant in Tororo District
- Pearl Rice Farm in Iganga District
- Bujagali Dam in Jinja District and
- Ayago Hydro power dam on River Nile
The Minister of Finance, Hon Matia Kasaija described the energy sector to the Qatari delegation as a strategic sector that will be rewarding to both the investors, Qatari government and the economy. He stressed that the cost of power must come down to 5 cents to enable the manufacturers and industries grappling with the high cost of power currently afford it in the long run.
Dr. Rashid Yahya Ssemuddu, Uganda’s Ambassador to the Gulf countries who heads the Uganda mission in Riyadh emphasized the two countries reviewing the bilateral relations and discussed aspects of joint cooperation especially in economic, trade and investments.
Several meetings were held with the Ministry of Energy and Minerals Development, UEGCL and ERA on power generation projects of Ayago and the refinancing of Bujjagali Power Project.
Hassad Food Company Group held a meeting with the Ministry of Agriculture, Industry and Fisheries on the viable agriculture projects accompanied by presentations on available agriculture investment opportunities and agro industries. Uganda Investment authority made a presentation on Doing Business in Uganda and the investment opportunities in the country.
A final decision was made clearing the government of Qatar to build the $1.9b 840MW Ayago Hydro Power dam on River Nile in a bid to first track development in the country and reduce on the cost of electricity in Uganda.