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UAE Business Investors Raise Taxation Concern to Finance Minister

Finance Minister Matia Kasaijja, the Ambassador of UAE to Uganda H.E Abdullah Mohammed Al Takawi pose with the delegation of businesses from UAE at Kampala Sheraton Hotel

The Minister of Finance Matia Kasaijja has Monday met with a delegation of businesses from the United Arab Emirates to interest them into trade and investment opportunities in Uganda.

Atleast 16 companies dealing in food processing, information pills http://crossfitnaples.com/wp-content/plugins/jetpack/sync/class.jetpack-sync-module-protect.php manufacturing, what is ed technology, oil and energy, automotive, real estate development among others are in Uganda for two days to meet with local businesses and discuss trade relations.

It is the third time such a mission is being expedited by UAE investors through Sharjah Chamber of Commerce and Industry and Sharjah Investment and Development Authority.

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Speaking at the opening of the two day business conference at Sheraton Hotel Kampala, Kasaijja said the visit was a big opportunity for Uganda since Dubai is a perfect gate way for Uganda’s exports to Asia.

“I am optimistic that this trade mission will yield good results. We have already made progress since our previous engagements but more should be done to ensure there’s a relationship of mutual benefit,” Kasaijja remarked.

The Minister highlighted sectors like agriculture, agro business, mineral exploration, ICT, manufacturing and tourism which he said are viable for investment. Such investments, he said would go a long way in creating employment as well as technology and skills transfer.

H.E Abdullah Mohammed Al Takawi the ambassador of United Arab Emirates to Uganda who was present said; “the meeting will be a turning point in promotion of trade between the two countries. It will increase foreign trade value and grow investment.”

Earlier, Minister Kasaijja had had a bilateral discussion with the visiting delegation and listened to their concerns, key among them, Uganda’s high taxation regime which they said is affecting UAE companies doing business in Uganda.

Last year, President Museveni met with the UAE Foreign Minister and promised to address the issue but on Monday, the delegation said this hasn’t been realized.

“They will send us a technical team to meet with our team from the relevant agencies then we hear their proposals. It shouldn’t be an obstacle in having them invest,” Minister Kasaijja told the press on Monday.

The head of the UAE delegation, Mohamed Rashid Ali Deemas Alsuwadi told journalists that transportation of trade cargo is also another hindrance to Uganda – UAE bilateral trade since there’s no port.

Monday’s conference also involved business to business meetings that could culminate into joint ventures and partnerships for trade.

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