Business

Museveni, CNOOC Boss Discuss New Investment Plans

President Museveni meets CNOOC Team

President Yoweri Museveni has received and held a meeting with the Vice President of China National Offshore Oil Corporation (CNOOC), Xu Keqiang and his delegation.

During the meeting that took place today at State House, Entebbe, Xu Keqiang briefed Museveni on the different investment undertakings in which his corporation is doing in Uganda.

He appreciated the fact that Uganda’s economy is growing very fast presenting a great opportunity to companies, like CNOOC, that are investing heavily in the country.

Xu Keqiang further told Museveni that CNOOC had met all its investment obligations to Uganda and is looking forward to further strengthening cooperation with Uganda for mutual benefit.

Museveni commended CNOOC for their investments so far especially in the oil and gas sector.

He described China and Chinese companies as great strategic partners of the African continent and Uganda in particular.

The president asserted that the relationship between China and the African continent is well founded and historical; stretching from the anti-colonial struggle, the South-South cooperation.

He added that the bonds between China and Africa should not just be seen as merely economic but rather strategic cooperation.

Finance and Economic Planning Minister, Hon. Matia Kasaija and the Attorney General, Hon. William Byaruhanga, attended the meeting.


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