Wednesday, December 8, 2021

President Yoweri Museveni has assured a visiting Indian Industries Association delegation of investors that Uganda has an abundant potential and unexploited areas of investment calling upon them to come and exploit the investment opportunities for profit.

The President was today holding a meeting with the delegation led by the Chairman of Indian Association in Uganda Mr Ashok Kumar Agarwal at State House Entebbe.

Addressing the delegation that comprised small and medium scale enterprises (SMEs) industries owners, President Museveni told his visitors that they would not regret investing in the country.

“We have great potential in all areas of investment. Uganda is therefore, the right place for investment,” said the president emphasizing that SMEs have potential for making profit in the existing diverse areas of investment.

The president further told the delegation that government has also put in place incentives to attract investors that include bank loans with low interest rates for manufacturers, providing cheap electricity for factories at a cost of five cents of a US dollar, soon to establish a cheaper transport system by railway adding that Uganda has ready raw materials and a local market availability with its 43 million people.

Speaking at the same meeting, the Minister of State for Agriculture, Fisheries and Animal Industry, Hon. Bright Rwamirama said that line ministries including ministry of trade would hold discussions to agree on investment plans to guide new investors.

The Uganda High Commissioner to India Ms Grace Akello assured the President that line ministries like Local Government have been very helpful to the investors during their orientation while in the country in support of investment opportunities.

The delegation has travelled around the country to areas including Kasese, Mbarara, and Masaka to identify strategic spots of industrial investment and are ready to start.