President invites more investors to do business in Uganda

Friday 17th August 2012

President Yoweri Museveni has extended his invitation for more investors to come to invest in the economy of Uganda.

Mr. Museveni made the invitation during a meeting with some of the investors from Thailand lead by Ekkapon Preechakrerkul, the President of Mahachai Enterprise co. ltd at his home in Rwakatura on Thursday.

President says that Uganda needs more investors with more investment skills to invest in the areas of food processing, like Coffee, Beef, Maize, Bananas a among others in order to add value for better returns. He said that Uganda which is one of the biggest producers of Coffee, sales the UN processed Coffee to U.K at lower prices of 1dollar per Kg and the same Coffee is sold at higher price in U.K after it is processed to add value. He noted that food processing has more potential in Uganda, but there are no investors to undertake serious processing to meet the demand.

President says that Uganda is both rich and poor country because of the gape between the capital and entrepreneurship which should have provided value addition. He noted that the population of Uganda, East Africa, southern Sudan, Africa and the Europe is enough for the consumption of good quality factory products from Uganda. He said, the consumption rate of factory products is growing in Africa while it’s shrinking in Europe adding that Uganda needs quality factory products to supply the big markets in Africa.

Mr. Museveni noted that there are no factories in Uganda to employ the skilled labor of the people of Uganda who are educated .He said the society of Uganda is in the middle, moving from the rural village to the urban which requires factories because the people are educated with skills to work in the factories.

President asked the investors from Thailand to invest in the infrastructure development like Electricity, roads, Railway, Telecommunication, piped water including Agro processing to transform the economy of Uganda.

President Museveni noted that the problems of insecurity in Uganda have been solved by the prevailing peace and the problem of little education has been solved by more Ugandans enrolled in learning. He said, the government of Uganda is now at the process of solving the problems of infrastructures like electricity, roads, railway, savings and Entrepreneurship.

The President of Mahachai enterprise, Ekkapon Preechakrerkul expressed happiness over Musevenis welcome for them to invest in the economy of Uganda. He said that he is ready to invest in some of the areas proposed by the President Museveni in Uganda.He said there company deals in the infrastructure developments of different secters.

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