19 April 2017
Yoweri Kaguta Museveni, President of Uganda announced today for opening of Investment & Tourist Office in Doha. He was addressing to Qatari Businessmen at the Doha Sheraton Grand Hotel.
‘Uganda plans to open an investment office in Doha, Qatar to facilitate prospective investors with information on trade, investment opportunities and to promote tourism,’ President Moseveni told. “there is free entry and exit of investors in our country. Let the Islamic Bank come to Uganda and save investors from the challenge of high interest rates’, he said.
President Museveni said that although Arab region was close to Africa but there is not much trade relations between the two. There is need for the Arab region and Africa to work together, Africa is a huge and growing market.
President of Uganda is on a 3-day state visit to the country. He is accompanied by the First Lady and Minister of Education and Sports Janet Museveni, Ministers of Foreign Affairs and Finance Minister along with members of parliament and business community.
Museveni told the Qatar business leaders that the more the business the two region’s conduct, the more they shall prosper. ‘By investing in Uganda, not only East African region with a population of 170 million people but whole Eastern and Southern Africa over 500 million people market is available.
“When you invest in Uganda you will sell up to the global level. Uganda has got trade agreements with the USA for zero tax rates for a total of 6,000 products, with the European Union for all products except arms and another agreement with China for 440 products.
‘We do not believe in exporting unprocessed minerals. We do not want Qatar to grow items but to process them. The areas where we need support and investment are the minerals development, iron ore processing industry, hematite steel that can be used for building infrastructure including dams and in agro-processing.
He told that the Chinese today produces 300,000 tons of steel per annum.”
Uganda’s non-resident Ambassador to Qatar Dr. Rashid Yahya Ssemuddu also attended the meeting.
Qatari business community members told Ugandan President they will be visiting Uganda.