President Yoweri Museveni has held a meeting with Chinese investors from two conglomerates, who called on him at State House Entebbe.
According to the media statement by the Uganda Media Center, the investors are Mr. Zhao Xinrun Mr. Dai Quanhe the General Manager of Kunming Pharmaceutical Corporation (KPC) Overseas Division, and Mr. Dai Quanhe the Vice President of Henan Senyuan Electric Company Ltd.
The statement indicates that President Museveni welcomed Kunming Pharmaceutical Corporation (KPC) to invest in Uganda in a bid to provide medicine at affordable charges for Ugandans.
“We want to have a vertically integrated industry so that raw materials such as starch from maize and cassava are used to make tablets and refined sugar to make syrups,” Mr. Museveni said.
The KPC Overseas Division specializes in research, development and sale of pharmaceuticals and has been in the market for 20 years exporting its products to over 30 African countries.
Meanwhile, Henan Senyuan Electric Company Ltd, that is in the business of developing, manufacturing and distribution of high and low voltage electric devices, also expressed interest to invest in Uganda.
In response President Museveni told Mr. Quanhe that government is in the process of repairing and restarting the copper mines in Kasese district so as to get the needed material to make transformers and cables.
“In Uganda, the electric company seeks to manufacture transformers and cables and also work with the Rural Electrification Agency (REA) to scale up rural electrification,” reads the statement.
The State House meeting was also attended by Uganda’s Ambassador to China, Dr. Crispus Kiyonga.