President receives Turkish investors

Friday 29th June 2012

President Yoweri Museveni has told a delegation of visiting Turkish investors that Uganda is one of the best investment destinations in the world adding that entrepreneurs are better off doing business in Uganda through taking advantage of the country’s unexploited natural resources.

The Turkish investors, who were led by Dr. Mustafa M. Gunay, the Secretary General of the confederation of Businessmen and Industrialists of Turkey, met the President last evening at his country home in Rwakitura, Kiruhuura district.

The President urged the group to invest in Uganda, especially in agro-processing in order to add value to the country’s agricultural produce that, he said, were in abundance.

He said that by investing in Uganda, the investors would have access to the East African market of 130 million people, the 500 million people in the Common Market of Eastern and Southern Africa (COMESA), the 1 billion people of the continental Africa market currently being negotiated and other markets such as the American market through AGOA, the European, Chinese, Indian and the Japanese markets as well.

The President said that because of lack of a strong private sector, much of the country’s potential areas are not fully exploited and asked them to come and take advantage of the much available potential. He said that in areas of much interest to the country’s development the government was will want to partner up and co-invest with the private sector.

On their part, the Turkish investors expressed interest in investing in a number of sectors that include power generation, agro-processing, construction, textile production and mining, among others.

The Minister of Agriculture, Animal Industry and Fisheries, Mr. Tress Bucyanayandi, that of Works and Transport, Eng. Abraham Byandaala, State Minister for Energy, Mr. Simon D’Ujanga and that of State for Privatization, Mr. Aston Kajara, attended the meeting.

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