President Museveni receives Indian investors

Medium_museveni umc
"Agricultural production in Uganda is not a problem. The only problem is processing. If you can save me on that, I will put your statue in Kampala", President Museveni said.
Uganda Media Centre

Office of the President

President Museveni receives Indian investors
 
22-08-2011

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.

The delegation that was accompanied by Uganda’s High Commissioner to India, Ambassador Nimisha Madhvani and India’s High Commissioner in Uganda, Ambassador Soumen N. Ray, was led by Sai Ramakrishna Karuturi the Managing Director of Karuturi Global Limited that is based in India and has branches in Ethiopia and Kenya.

President Museveni warmly welcomed the Indian entrepreneurs to Uganda. He advised them to look into areas of processing agricultural products, especially fruits, and assured them that opportunities in the processing sector are limitless in Uganda.

"Agricultural production in Uganda is not a problem. The only problem is processing. If you can save me on that, I will put your statue in Kampala", he said.

The President informed them of the 3 available modules of investment that they could take advantage of including processing without getting involved in physical production where an investor buys products from farmers, processes them or engage in core plantation and process the produce into finished items or contracting out-growers so that they as a community of producers can benefit.

Mr. Museveni further informed the entrepreneurs that other areas they can venture into include the processing of textiles from Uganda’s long staple cotton that measures 1.25 inches, leather tanning, paper production from banana stems and also tea.

He welcomed the idea of introducing to farmers the simple technology of biomass production for running water pumps needed for irrigation.

President Museveni also urged the Indian investors to explore the area of fertilizers’ production adding that all the components for their manufacture are available in Uganda.

Regarding the ICT sector, Mr. Museveni urged the Indian entrepreneurs to focus on the Business Processing Out-sourcing (BPO) that will go a long way in providing employment opportunities to the youth in Uganda. He assured his guests of tremendous investment opportunities in Uganda and said that they should try their best to critically look at those investment opportunities.

"This is a very good partnership which I would like to encourage you to take advantage of. Uganda is a rich country with natural resources and good climate making it unique in the whole world”, he assured them.
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