Wealthy Qatar, Saudi Arabia Investors Set For Uganda Gulf Summit
Uganda is set to host the first ever two-day Uganda Gulf Cooperation Council (GCC) Investment Conference, Chimpreports.com has been told.
President Yoweri Museveni will preside over the opening of the two-day conference at Kampala Sheraton Hotel.
The high-powered business delegation from Qatar, Bahrain, Saudi Arabia, Kuwait, UAE and Oman, will include investment funders, private sector association leaders and members, as well as high ranking officials from the Islamic Development Bank.
“The presence of these personalities and the involvement of the President of Uganda, signifies the importance that Uganda and the GCC region places on economic collaboration, says Finance State Minister Aston Kajara.
It also implies a successful collaboration cultivated by the private sector engagement.
Uganda’s import export business has taken advantage of the trade hub provided by the UAE and the interaction has opened up for more investment opportunities between the two countries.
The telecommunication and aviation sectors in Uganda have seen investment come in from the UAE in the recent years.
The opening up of Qatar Airways into Uganda will no doubt increase business activity due to improved access. Investment from Saudi Arabia has been mainly in Building and Construction, ICT and other light manufacturing.
Kajara says Uganda is yet to host investment projects from the other GCC members like Oman and Bahrain.
“We expect the upcoming conference to spur more trade and investment between the GCC and East African regions, specifically Uganda,” said Kajara.
The gathering will also showcase the strength of the Ugandan economy and opportunities for investment, which include adding value to the agricultural produce, mining and mineral beneficiation, tourism, ICT and infrastructural development
“We also expect to adopt and implement a clear strategy for the post conference follow up. Strategic follow up is the only way Uganda will be able to realize tangible projects that will create the much needed jobs for our people,” said Kajara.
“I call upon the Uganda Investment Authority to take up this issue with the seriousness it deserves.”
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Updated on 2013-05-09 09:25
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