President Yoweri Museveni has received a multi-sector delegation of over 30 entrepreneurs from India who are willing to invest in various enterprises in Uganda such as agriculture, banking and Information Communication Technology, among other sectors.
North invites Indian investors
By Samuel Sanya
Northern Uganda has offered Indian agricultural investors land to carry out commercial farming. This offer will be under joint venture agreements with the locals.
“Agricultural investors are free to come and use our land if they are willing to engage the local community before setting up businesses,” said Mark Moro, a representative of the region’s landowners.
Moro is also the head of the Gulu Uganda National Chamber of Commerce and Industry.
He pointed out that there were over one million hectares available for commercial farming in the region.
Land ownership in the north is communal.
“The businesses should be registered in the names of the villages where they will be located to encourage the communities to own up to the task of providing raw materials for processing,” Moro advised.
Moro was speaking on the sidelines of a meeting between the landowners and an Indian trade delegation at Kabira Country Club in Kampala recently.
Soumen Ray, India’s high commissioner to Uganda, pointed out that alliances between local farmers and their Indian counterparts would make Uganda a vibrant food exporter.
“India transformed from a food importing nation in 1947 to a top food exporter today because of adding value to our agricultural produce.
“I hope that the collaboration between the Ugandan and Indian business communities will spur substantial development in Uganda’s agricultural sector,” he said.
The Indian investors pledged to invest over $2b (about sh5.6 trillion) in the agricultural sector over the coming years by setting up processing plants.
