President Yoweri Museveni has said that low cost of transport and electricity is crucial in attracting investors.
The President made the remarks  at the opening of the New Partnership for Africa’s Development (NEPAD) and the Organisation of Economic Co-operation (OECD) Africa Investment Initiative meetings at the Imperial Royale Hotel in Kampala. The theme of the meetings is “Advancing Investment Policy Reforms”.
The President said that US$200 million has been provided by the Government of Uganda for construction of Busia – Katuna dual carriage way which links the Uganda Kenya border at Busia to the Uganda – Rwanda border at Katuna. Mr. Museveni revealed that Shs.1.1 billion has been allocated to road development in the current 2008/09 financial year. He said that government is going to acquire road maintenance equipment to serve all corners of the country.

The President said that seminars need to harmonise issues of railways, roads and electricity generation. He disclosed that funds have also been allocated to purchase a new wagon ferry to replace the one that sank in Lake Victoria. He observed that this would work well in line with improving the southern export route to the sea. He added that plans are in progress to re-open the Tororo – Gulu and the Kampala – Kasese railway line.

President Museveni said that only 19% of Africa’s roads are paved and that there is need to expand the road network. He stressed that high transport costs impact negatively on exports.

Mr. Museveni criticized people who claim to be environmentalists but get involved in blocking construction of power dams. He said that the advancement of the Investment Policy reforms is an issue of the highest importance to Africa.
The Minister of State for Investment, Professor Semakula Kiwanuka, saluted the President for sparing time to grace the occasion.
The Executive Director of Uganda Investment Authority (UIA) Dr. Maggie Kigozi said that Africa needs US$40 billion for its infrastructure development.

Deputy Speaker of Parliament, Ms. Rebecca Kadaga, the Minister of Gender, Labour and Social Affairs, Mrs. Syda Bumba and State Minister for Finance Mr. Fred Omach, among others, attended the occasion.



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