Uganda promotes Investment Projects worth US$ 6 Billion in ChinaBy Uganda Investment Authority
A Uganda Investment Promotion Seminar was held in Chongqing, China, yesterday, November 10th 2016. Uganda Investment Authority’s Director Lands Development, Mr. Hamza Galiwango is part of Uganda’s government delegation led by H.E. Edward Sekandi, Vice President of Uganda. The government of Uganda is promoting 14 projects worth 6 billion USD to Chinese potential investors. These include crude oil export pipeline development, Kampala rapid highway system, Iron ore processing, geothermal exploration and development etc. According to Mr Galiwango, who is in China with the Vice President in an investment promotion drive aimed at a series of business meetings, H.E Edward Sekandi has welcomed Chinese enterprises to invest in Uganda for export, citing the availability of industrial parks being established all over the country.
Mr. Galiwango had the opportunity to detail a series of reasons to invest in Uganda such as political and social stability, rich of natural resources, high quality of labour force. He also assured the potential investors of security of their investment since Uganda has signed a number of strategic business and trade agreements with various countries. He highlighted investment opportunities in transportation, agriculture, tourism and energy.
In recent years, China has conducted a series of projects in the sector of infrastructure including Entebbe International airport, the Nationals Information Communication Hub Network and Hydro-power projects. Uganda embassy officials, who were attendance, also pointed out that these projects have not only created employment opportunities for Uganda, but also increased its national income as well as enabling the flow of China’s capital and technology to Uganda.
According to investment data from Uganda Investment Authority, China has for the last three years topped the list of the top ten foreign direct investment sources in Uganda