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Arabian countries eyeing Uganda for Investment
Uganda is set to host a number of Arab companies looking to partner with local firms in the cotton, dairy, meat, tourism, energy, fruit and vegetables subsectors in the last week of May.
A statement from the Uganda Investment Authority (UIA) indicates that the Gulf Cooperation Council, which brings together six oil-rich countries, is keen on sending representatives to meet Ugandan business personalities.
“The companies will be looking to form joint ventures with local firms, carry out equity financing,” said Elizabeth Ssemwanga, a technical advisor of the Investment Technical Assistance Programme.
“They will be coming with the Arab Bank for Development in Africa, which is looking to do feasibility studies on the Ugandan investment climate,” she added.
The conference will officially be opened by President Yoweri Museveni on May 28, with a view to highlight Uganda’s unique investment location attributes and allow participants to physically appreciate its natural endowment.
The Gulf Cooperation Council is made up of Bahrain, Kuwait, Oman, Saudi Arabia, United Arab Emirates and Qatar.
By Samuel Sanya
The New Vision Newspaper
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