President Yoweri Museveni has held discussions with various UAE investors and CEOs of leading companies in various sectors including America’s Business Council based in Dubai, Emerson with interest in Oil and Gas, Ernst and Young and Norton Rose Fulbright among others.
President Museveni said that with increase in demand not only for Uganda alone but also for East Africa and COMESA, the investors are assured of the market of their products.
“The demand is there, it is going up, because Africans have been under consuming while the rest of the world has been over consuming,” the President said on the sidelines of the ongoing 2017 Global Business Forum on Africa in the business capital Dubai.
He encouraged investors to come and invest in Uganda citing peace and stability, infrastructure development especially electricity, roads and railway lines which he said it is a stimulus for investments.
“There are plenty of raw materials, minerals, tourism and so on so when you invest there you have access to all these”, the President said, adding that the business community will enjoy a number of policy incentives such as tax holidays and VAT incentives among others.
” I don’t have to bother investors with taxes, what I want is to invest ,use our raw materials, create jobs ,add value and promote exports “he said.
The business group expressed interests in investing in Uganda especially in areas of Oil and gas, and agro-processing among others.
The President was accompanied by Uganda’s Energy Minister Irene Muloni, Tourism minister Ephraim Kamuntu, State Minister for Investment and Privatization Anite Evelyn and Ambassador Nimisha Madhvani among others.