UGANDA RIPE FOR INVESTMENT-PRESIDENT MUSEVENI

President Yoweri Museveni in Abu Dhabi

BY JOHNISANI OCAKACON

KAMPALA: MONDAY, OCTOBER 04, 2021

President Yoweri Museveni has wooed international investors to Uganda, explaining that the country is ripe for investment and ready for profit driven business.

He highlighted agro-processing, Steel production, and energy and fertilizer production as some key areas for investment in Uganda, according to a State House statement.

The president said that Uganda has got good iron ore but still uses the reconciled steel that is not good for strong steel.

“When we try to get strong steel, it comes from very far in China which is expensive because of the distance. We therefore want to develop a steel industry using our iron ore,” said President Museveni.

He made the remarks during the opening ceremony of the Uganda National Day during the World Trade Expo in Dubai, United Arab Emirates (UAE), as part of his three-day working visit.

Museveni underscored that Uganda is the right place for any serious business, focusing on people who are looking for profitable investments.

He told world business leaders that Uganda has a market population of 42 million people which is projected to increase to 100 million people in the next 30 years.

Museveni is joined by other Ugandan delegation that arrived in Dubai earlier to prepare to showcase Uganda at the World Trade Expo.

He congratulated the team for doing a tremendous job by marketing the country and thanked the UAE for organizing the event where the world executives meet to discuss prosperity.

Museveni emphasized that the world should continue and join hands to fight Covid-19 and applauded the UAE for putting in place strict Covid-19 measures for the showpiece.

He also commended the UAE leaders for their vision for turning the country into a prosperous nation.

“UAE was a desert country but leaders with vision have turned it into a center of affluence. This is an example that Uganda can borrow,” he said.

Museveni also held bilateral meetings with His Highness, Sheikh Mohamed bin Zayed bin Sultan Al Nahyan, the Crown Prince of the Emirate of Abu Dhabi and Deputy Supreme Commander of the United Arab Emirates Forces and Ruler of Abu Dhabi on how the two countries can work together.

Over 190 countries are gathered for Expo 2021 in Dubai, the highest number of countries ever to participate in a World Expo, with each participating country having its own pavilion situated in either the Opportunity District, Mobility District or Sustainability District.

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