President Yoweri Museveni introducing UIA's Jolly Kaguhangire.
EC Village Verification

Chinese businessmen have invested US $1.2 billion and generated 45.000 jobs for Ugandans since 2011, a senior government official has disclosed.

“China is one of the top sources of foreign direct investment and in the last three years has, with India, ranked second. Since 2011, Uganda Investment Authority has registered about US $1.2 billion in the planned investment from China,” Lawrence Byensi, the Uganda Investment Authority (UIA) Director of Investment Facilitation, said.

Addressing the press at the Uganda Media Centre Byensi urged investors and other business stakeholders to participate in the forthcoming Uganda – China Economic and Trade Cooperation Forum scheduled for May 5 at the Speke Resort Munyonyo.

Stories Continues after ad

He said the Forum, organized in conjunction with China Enterprise Chamber of Commerce, is aimed at taking stock of “Chinese investments, their contribution in the development of the industrial sector and a strategy for the mutual benefit of the two countries.”

Further, Byensi said, Chinese businessmen in Uganda have invested in different sectors including construction, agriculture, energy, manufacturing among others.

“We want to leverage China’s cooperation to fast track Uganda’s infrastructure and industrial development, Byensi said, adding that the Forum will be officiated at by Vice President Edward Kiwanuka Sekandi.