Norway to strengthen its business in Uganda

27-March-2012

Business companies from Uganda and Norway will be partnering to share business ideas to develop and expand their business activities in the two countries.


Speaking to heads of businesses at the Norwegian embassy offices in Kampala recently, Thorbjorn Gaustadsather, the ambassador of Norway to Uganda said all businesses in different categories in the two countries will be given technical support to interact with each other to benefit from the international market.



“The two countries are endowed with different resources which can be exploited. Africa is growing, so is Uganda. We will ensure more companies in Norway come and interact with those of Uganda,” Gaustadsather told The Independent on the sidelines. He said Uganda had potential in the energy sector, oil and gas plus the agricultural sector and thus foreign companies had chance to partner with local companies.




Statistics indicates that, in 2010 over $6billion in Foreign Direct Investment (FDI) from Norway came to the East African region. While in 2011 the region attracted $200million of private equity funding as FDI.


“I am therefore hopeful that we will witness continued growth in private sector engagement from Norway,” he said.


On the same occasion, the ambassador launched the first issue of the quarterly newsletter “EAC-Norwegian Network News” which he said was an important milestone for business networking in the regional context that will reach a wider audience.


“The importance of business networks cannot be overstated and therefore I am hopeful that this newsletter will be a useful tool to increase the visibility of Norwegian private sector activities in the region,” he added.

The Independent Magazine