President Yoweri Museveni has told a visiting delegation of entrepreneurs from the United Arab Emirates (UAE) that Uganda is the best investment destination because the country offers a lot of untapped business opportunities in a diversity of sectors of the national economy.
The President made the remarks while addressing a combined delegation of United Arab Emirates and Saudi Arabia based entrepreneurs who called on him last evening at State House, Entebbe.
The delegation is in Uganda to explore further the areas of business ventures following President Museveni’s recent visit to the United Arab Emirates where he addressed the 4th Global Business Forum on Africa and wooed Arab investors to come and do business in Uganda and take advantage of the country’s abundant raw materials, human resource and markets.
Mr. Museveni who warmly welcomed the delegation to Uganda, highlighted to his guests the crucial elements of business that Uganda is endowed with namely the vast market, products/services, infrastructure development, peace, raw materials and skilled labour force, among others. He asked the investors who comprised Chief Executive Officers from different companies, to come and invest in Uganda.
“We have the market of Uganda and the region and the third party markets at zero tax,” he said.
The President encouraged the visiting investors to explore viable business areas in the manufacturing, agro-processing and infrastructure development, among other sectors.
Prior to their meeting with the President, the entrepreneurs had earlier been given an overview of the business climate in Uganda at the Kampala Sheraton Hotel, courtesy of the Uganda Investment Authority (UAI).
Mr. Abdullah Al-Owais, Chairman of Sharjah Chamber of Commerce and leader of UAE and Saudi Arabia Trade Mission said their visit aims at the enhancement of trade relations between the United Arab Emirates and Uganda. He saluted President Museveni for hosting his delegation and gave assurances that they are committed to investing in Uganda.
Finance and Economic Planning Minister, Hon. Matia Kasaija, State Minister for Privatization and Investment, Hon. Evelyn Anite, Uganda Investment Authority (UIA) Executive Director, Ms. Jolly Kamugira Kaguhangire and Uganda’s Ambassador to the United Arab Emirates, Ms. Nimisha Madhvani, among others, attended the forum at State House.