President invites Indian industrialists to invest in the country

President Yoweri Museveni has extended an invitation to Indian industrialists to invest in the country.

Receiving a delegation of the Confederation of the Indian Industry today at State House, Nakasero, President Museveni told them that Uganda is blessed with an abundance of natural resources that need tapping into. He cited the generation of hydro-power and agro-processing as some the major areas that need to be invested in by Uganda’s development partners.

Mr. Museveni urged the delegation that was led by the Confederation’s President Mr. Adi Godrej to utilize the opportunity of the great need that Uganda has in getting more energy to assemble electricity transformers. He also called on them to look closely at the establishment of an oil refinery in the country saying “it is Government policy to process the oil and market its finished products.”

The President asked those with the expertise in solar energy to manufacture solar panels in Uganda as well as work on solar powered water pumps which can serve small irrigation projects within the country. He also informed his guests that Uganda has about 100 million tons of iron ore deposits which could be processed locally and help reduce costs in the construction sector.

Museveni welcomed the proposal of introducing telemedicine in the rural areas. He emphasized the need to have value addition to agro-products. He urged the Ugandan Indians in the Diaspora to return and invest in the country.

On his part, the President of the Confederation of Indian Industrialists, Mr. Adi Godrej, assured the President that they would inform their members about the business opportunities available in Uganda.