Museveni Promises Land To UK Investors
President Yoweri Museveni has called on foreign investors to Uganda to work closely with their local partnerships to maximize returns on their investments, saying the country has a lot of opportunities that can be exploited for development.
He said in the agriculture sector Uganda has a lot of farmers who can grow almost anything and the investors only need to process and add value to the products for the markets.
“You can have a nucleus farm and the farmers can do the out growers role for produce including simsim, sunflower, groundnuts, bananas etc.
For example now, we are processing banana juice using indigenous technology which our scientists have modernized. We have the knowledge but we have no money. Government can get for you land for agro processing,” he said.
The President was recently meeting various investors based in the United Kingdom led by Mr. Zain Latif whose TLG Fund has equity Investments in Quality Chemicals and Vero Water Ltd in Uganda.
The meeting took place recently at the President’s residency at Hotel Intercontinental in the British Capital, London and was also attended by Willy Muteza, a Ugandan based in the UK and promotes the country’s interests there.
He said with the integration of East Africa, the region is working on harmonizing its laws including introducing a common currency, a monetary union a political federation in the future.
He said the region also has an infrastructure master plan including roads, railways electricity etc to promote growth and fast track trade and development, adding that with a market of over 135 million people, investors have a vast market for their products.
Mr. Zain briefed the President that his company is considering expanding their investment in Quality Chemicals with US$50million to produce up to 10 million tablets ARV and drugs to fight malaria.
The team also discussed the provision of government trade bonds and the issuing of Euro bonds for transparency and raising Uganda’s profile on the international market.