Qatari businesses urged to invest in Uganda

 25 Oct 2017 - 0:02

Qatari businesses urged to invest in Uganda
Qatari business delegation, led by Mohamed bin Ahmed bin Towar (fourth left), QC vice chairman with Ugandan President Yoweri Kaguta Museveni (fourth right) and other officials in Uganda.

The Peninsula

Ugandan President Yoweri Kaguta Museveni has urged Qatari businessmen to take advantage of investment opportunities in the country.
A business delegation led by Mohamed bin Ahmed bin Towar, Qatar Chamber (QC) vice chairman recently visited Uganda aimed at enhancing trade and economic relations between Qatar and Uganda and exploring investment opportunities in food security and tourism.
The delegation also visited plot set for establishing a Qatari City in Uganda, according to a statement issued by QC, yesterday.
Expressing his keenness on enhancing cooperation ties between Uganda and Qatar, Ugandan President Museveni, who received the Qatari delegation stressed that his country would provide more incentives to attract Qatari investors.
The Qatari delegation held meetings with various officials including the Ugandan Prime Minister, Ministers of Finance, Foreign Minister , Minister of Investment, Civil Service and other officials. During the meetings, both the sides stressed on the need to develop trade and investment relations.
The Ugandan officials put forward many ideas for investment including a project for developing a Qatari city by a leading Qatari real estate company, establishing a Qatari Islamic bank in Uganda, and investing in tourism, livestock, food security and parks sector. Qatari businessmen also investment opportunities in mining, coffee and real estate sectors.
QC vice chairman, Bin Towar, reaffirmed Qatar Chamber’s interest to see more business cooperation between the countries and see more Qatari investments in Uganda.
“There is a great interest for Qatari businessmen to explore available investment opportunities in Africa in general and in Uganda in particular. Uganda is a good investment destination for businessmen. Qatari and Ugandan businessmen can build partnerships in agriculture, food industry, mining and oil exploration, Islamic banking, as well as tourism,” he said.
“In the light of the economic development that Uganda seeks to achieve, there are many opportunities for cooperation and exchange of experiences and joint investments with various investors and Qatari companies in many sectors. Uganda is rich in natural resources, especially in agriculture and food industries, which opens the door to alliances and partnerships between the two sides. This vital area serves Qatar’s goals in achieving food security,” he stressed.
Bin Towar also added highlighted that Uganda’s geographic positioning makes it a gateway to all neighbouring African markets for Qatar.
“Uganda is a strategic country in East Africa and has concluded several agreements with neighbouring countries, which means that exports can reach more countries through Uganda and thus open up new export markets for country goods. It also provides an opportunity for increased cooperation between Qatari and Ugandan businessmen to set up joint ventures serving the economies of the two countries,” he said.