The Government of Uganda has appealed to the Republic of China to come and invest in Uganda’s agriculture, energy, mining and petroleum sectors, arguing that there is huge untapped potential.
Speaking during the China -Uganda Investment Economic and Trade Promotion conference at Kampala Serena Hotel on Tuesday, Ugandan officials, among them, State Minister for Energy Sidronius Opolot Okaasai, said Uganda provides a very conducive investment through the growing market for various products, good infrastructure, political and economic stability, liberalised banking and finance.
The minister added that Uganda’s oil and gas sector which is implementing various projects such as the East African Crude Oil Pipeline (EACOP) Project, and ongoing exploration through the upcoming third licensing round presents opportunities that Chinese companies can invest in.
“In the energy sector the Government is working to increase generation of energy, modernization and expansion of energy transmission and distribution. This presents various opportunities for investment and partnership between Chinese and Ugandan companies,” Okaasai said.
“Uganda admires the development trajectory of China which has been able to progress in the last few decades and managed to completely transform its economy into a global power house. We commit to continue promoting and supporting the mutual collaboration between Ugandan and Chinese companies,” he added.
In his remarks, the Chinese ambassador to Uganda, Zhang Lizhong, said China and Uganda are good partners.
“Under the strategic guidance of President Xi Jinping and President Museveni, China-Uganda relationship has made significant progress in recent years and is in its best shape. Our political mutual trust has been continuously deepened, laying a solid foundation for the development of bilateral economic cooperation,”Lizhong said.
The Conference’s main objective was bolstering further bilateral cooperation between Uganda and the People’s Republic of China, specifically the sister-sister relations of Changsha City and Entebbe City.
The promotion conference focused on showcasing Uganda’s Investment opportunities in the areas of agriculture value addition; mineral development and promotion of the 3rd China Africa Economic and Trade Expo scheduled for June this year.
Changsha is the host city of the China-Africa Economic & Trade Expo scheduled for June 29th to July 2nd, 2023.