President Yoweri Museveni has said that Uganda is a rich country with a lot of natural resources and a big population, noting however, that it needs capital finance and investments to transform its economy.
“We need joint ventures and direct investments in Agro processing, fruit and diary production. Uganda needs these investments. United Arab Emirates, by the Grace of Allah, have made a desert a center of business; and with oil, they have finance capital. Here we have everything but no capital and entrepreneurship,” he said.
The President was this morning meeting a delegation of investors from United Arab Emirates including the Assistant Under-secretary in the Ministry of Economy, foreign trade section, Juma Muhammed Al Kait and a delegation from the Sharjah Chamber of Commerce and Industry
The President urged them to explore areas such are mineral exploration including iron ore and copper which are abundant in Uganda.
The meeting was attended by Uganda’s Prime Minister Dr. Ruhakana Rugunda, Minister of Science and Technology, Professor Steven Tickodri Togboa and Minister Of State for Finance (Privatization) Aston Kajara.
The delegation hailed the President for the cooperation between the two countries and said they are working together with the Uganda Chamber of commerce to promote trade and investments between the two countries.
They said they will soon sign the bilateral and investment agreements between Uganda and UAE to commence with their investment projects