The Ugandan Ambassador in Beijing H.E Oliver Wonekha has wowed the Chinese community on the opportunities in the Pearl of Africa.
This comment was during the Uganda – Shandong Investment, Trade and Tourism Promotion Conference on the 8th November 2022.
This summit was organized by the Embassy of the Republic of Uganda in Beijing – China in conjunction with Shandong Foreign Office, the Ministry of Foreign Affairs – Kampala, the Chinese Embassy in Kampala Uganda Investment Authority (UIA) and other MDA’s aims to deepen bilateral trade and economic cooperation for the mutual benefit of both Uganda and China.
The Conference is one of the activities to commemorate 60 years of the establishment of Diplomatic relations between Uganda and China which has both physical and online participation.
The objectives of this Conference include;
i) Explore opportunities for cooperation in cotton production and textile value chain companies
ii) Build cooperation in production, processing, and marketing of Ugandan grains, dried tropical fruits, coffee, sesame, and industrial cassava for export to China and outside China
iii) Articulate Uganda’s tourism attractions and potential, understudy scenic sites development and process of creating internal tourism
iv) Study the petrochemical industry in Shandong and agree on cooperation in the development of the full value chain of the Petro-chemical industry in Uganda.
v) Identify companies for mining/mineral processing
vi) Explore opportunities for cooperation in agricultural products value addition processing
vii) Explore opportunities for cooperation in manufacturing sector particularly machine tool production
viii) Explore opportunities for cooperation in logistics, transport, and distribution companies
AMBASSADOR OLIVER WONEKHA’S REMARKS DURING THE INVESTMENT, TRADE AND TOURISM PROMOTION CONFERENCE IN SHANDONG ON NOVEMBER 8TH 2022 IN CELEBRATION OF 60 YEARS OF DIPLOMATIC RELATIONS BETWEEN UGANDA AND CHINA
Your Excellency Mr. Li Yongsen, Deputy Director-General of Shandong Foreign Affairs Office,
The Leadership of the China Chamber for Promotion of International Trade (CCPIT) of Shandong,
The Leadership of Donying City,
The Prospective Investors and Business Community,
Distinguished Participants,
Ladies and Gentlemen,
I take this opportunity to thank the Shandong Foreign Affairs Office for the warm welcome and hospitality extended to me and my delegation since yesterday when we arrived in this beautiful City. I am further grateful to the Shandong Foreign Affairs Office for organizing this very important conference, that will give the Embassy a priceless opportunity to interact with prospective Chinese Investors and Business Community wishing to do Business with Uganda; and interest them in making a decision to invest in Uganda.
Uganda and China have enjoyed warm and cordial relations since 1962. Out of the cordial relations for the past 60 years have come tangible outcomes like Education Scholarships, projects implemented in various Sectors of Uganda’s Economy like Agriculture, Construction, Infrastructure, ICT etc.
Distinguished participants,
Shandong Province economy has well developed oil and Petro-chemical industry, Agriculture including cotton and Textile production, Machine Tools Production and Tourism Sector.
It is on this basis that the Embassy seeks to further strengthen the already existing strategic relationship with Shandong province in mutually beneficial areas including Trade, Agriculture, Petro-chemical industry, Tourism, Manufacturing, Power and Infrastructure and Capacity Building.
Uganda seeks to explore ways to pursue economic and Trade cooperation on a win-win basis, which will include but not limited to; increase trade, access to markets, attraction of Foreign Direct Investment (FDI), technology and skills transfer, People to people exchanges among others from the People’s Republic of China into Uganda.
Ladies and Gentlemen,
Uganda’s Consistency and commitment to Private Sector Development is legendary and unrivalled making Uganda a fully liberalized economy.
There is renewed focus to further increase profitable execution of Uganda’s abundant investment potential and so Chinese Investors are highly encouraged to advantage of this and invest in Uganda to make huge profits.
Ladies and Gentlemen,
Since a detailed presentation is to be made, let me just outline for you some of the few reasons why you should rush to invest in Uganda for maximum benefit.
a) Uganda has grown itself to be a highly stable country over the past 30 years.
b) According to the latest data sets from the World Bank, Uganda has one of the lowest crime rates and most stable inflation rate in East Africa – averaging 4.89%
c) Uganda is the Most open Economy to FDI within the EAC
d) According to benchmarks from Financial Times Limited, Uganda has an excellent working and living environment
e) Uganda Has a robust young and trainable population
f) Uganda’s electricity costs are competitive at 80% of Kenya’s costs
g) Property costs in Uganda are competitive with industrial shed monthly rents in the range of $4-6 per square metre
h) Large and growing domestic market of nearly 45 Million people, strategically located in the heart of Africa with a combine market of population of over 700 million in the EAC and COMESA region.
i) Globally, Uganda has a competitive tax incentive regime
It is, therefore, my wish that we work committedly to enhance the partnership between the Chinese and Ugandan Business community for mutual benefit of our two peoples. I sincerely invite companies and business people from Shandong to explore doing business in and with Uganda for maximum gain.
Thank you and welcome to Uganda, the Pearl of Africa.
