A delegation of 30 people from the Chinese central province of Hunan is in Uganda to hold discussions with government on investment opportunities in electricity distribution, malady http://ccalliance.org/wp-content/plugins/sitepress-multilingual-cms/inc/icl-admin-notifier.php mining and other potential sectors.
The group led by Mr. Xu Xiang Ping the Principal Director General of the Hunan Pronvince comprises of government officials, thumb http://creamiicandy.com/wp-includes/class-wp-embed.php entrepreneurs and manufacturers and seeks to promote trade and cooperation between Uganda and China.
On Monday, http://clevelandheartlab.com/wp-admin/includes/revision.php the delegation met with officials from Uganda Investments Authority (UIA) at Speke Resort Munyonyo for a trade and investment conference to among other things get an insight on Uganda’s investment landscape.
Mr. Xiang Ping said that the visit follows a recommendation by Uganda’s envoy to China during a recent African Ambassadors meeting in Beijing. He made note of Hunan Province’s vigorous promotion of science and technology along with its high production capacity which they could share with Uganda.
“We hope we can work with UIA to promote cooperation and knowledge transfer especially in areas of industry, infrastructure construction and mining. Uganda possesses a good environment for investment in addition to its stability and strategic location,” said Mr. Ping.
Hunan Province occupies 210,000 square kilometres with a population of 53 million people. In 2015, its GDP stood at USD 500 Bn.
While in Uganda the delegation will meet with Prime Minister Dr. Ruhakana Rugunda to promote their priority project in a rural electrification across Uganda. TBEA a Chinese leading company in design and production of electricity transformers looks to explore the Ugandan market.
The Executive Director Uganda Investments Authority Dr. Frank Sebbowa appreciated the visiting delegation and assured them of cooperation. His presentation highlighted the country’s major viable sectors for investment among them; industry, tourism, mining, oil and gas stressing the prevailing political and socio-economic stability.
“Investment in Uganda is protected by law and government through our good policy framework in addition to the several incentives we offer. We encourage you to also consider investing in banking to enable our people access affordable finance,” Dr. Sebbowa added.
He however cited challenges that surround Chinese investors including; concealment of information, unlicensed operations, language barriers.
According to the 2014/15 UIA Uganda investment report, China remains the biggest contributor to foreign investment in Uganda after India.