Uganda to Open Investment Office in Doha – M7
President Yoweri Museveni has said that Uganda is planning to open an investment office in Doha, Quatar to facilitate prospective investors with information on trade and investment opportunities and promote tourism in Uganda.
The President was on Wednesday addressing a delegation of 60 members of the Quatar Chamber and Quatar Business association at the Sheraton Grand Hotel in Doha, Quatar. The President was accompanied by the First Lady Janet Museveni and some other ministers on a 3-day State visit in Qatar.
“Uganda will open an investment office in Doha. It will also work on the promotion of tourism. It will be part of Uganda’s Embassy in Quatar. There is free entry and exit of investors in our country. Let the Islamic Bank come to Uganda and save investors from the challenge of high interest rates,” he said.
He expressed his pleasure for having his first visit to Qatar and noted that he also went to Saudi Arabia for the first time, Dubai and Abu Dhabi.
President Museveni observed that the Arab region was close to Africa, but noted that not much trade was going on between the African continent and the Arab peninsula.
He said that by investing in Uganda, which has got a population of 40 million people, they do not only sell to us but to the East African region that is endowed with a population of 170 million people while the Common Market for Eastern and Southern Africa has got over 500 million people.
“When you invest in Uganda you will sell up to the global level. We do not want Quatar to grow items but to process them. The areas where we need support and investment are the minerals development. We do not believe in exporting unprocessed minerals. You can invest in another iron ore processing industry since the one operated by the Chinese today produces 300,000 tons of steel per annum,” he said.
He therefore lured them to come up and work with Africa particularly Uganda stressing that ‘the more the business we conduct, the more we shall prosper.’
The members of the Chamber pledged to organize a visit to Uganda.