Minister Kyambadde applauds Chinese for investing in Uganda

Minister of Trade, industry and Cooperatives, Amelia Kyambade has commended the Chinese business community in for their cordial business relations in Uganda.
Speaking at a breakfast meeting with Chinese business community, the Kyambadde stressed the need for the Chinese to be accorded a conducive business environment.
“Uganda cherishes the cordial relationship with China and applauds the Chinese government for its contribution to the social – economic transformation of Uganda in areas of infrastructure developments especially road construction, power generation and communication development,”
She said that China has been Uganda’s major trading partner ranking second in the sourcing of imports for Uganda with import values increasing from US $622 million recorded in 2013 to US $ 740 million for 2014 to US $ 875 for 2015 to US $886 in 2016.
The Minister promised to increase investment opportunities in agriculture and agro processing in which it has comparative advantage in the region plus improving the business environment by putting in place enabling policies and laws, improvement of social- economic infrastructure.
She further warned landlords against charging rent in dollars and emphasized that tenants must pay rent in local currency.
She also discouraged Chinese from involving themselves in retail and wholesale trade. “Our take is that Chinese business people concentrate on setting up manufacturing plants while retail and wholesale trade should be left to Ugandan business people to help stimulate production, create employment and wealth to improve on the standards of our people,” she noted.
The Chinese Ambassador to Uganda, His Excellency Li Keqiag said the people of Uganda and China are brothers and sisters and therefore, the need to do business with each other.
“Our traditions are deeply rooted in routed in the people of Uganda and for us we take Uganda as our second home,” he said.
“Since President Xi Jinping announced cooperation between our two countries, relationship has been deepened, with many Ugandan projects being funded by Chinese contractors and banks,” he said.
The Ambassador pledged to improve their imports and investment volume in Uganda
He decried the language and cultural coupled with legal and social differences that exist between China and Uganda which is a hindrance to their investment plans.