Museveni to attend global African investment summit

Government is in final preparations to showcase her vast investment opportunities during the Global African Investment Summit which will take place in October in London.

President Yoweri Museveni alongside his counterparts, Paul Kagame of Rwanda, John Dramani Mahama of Ghana and Jakaya Kikwete of Tanzania have already confirmed their participation at the event expected to host over 400 private sector investors seeking public and private partnership investment opportunities in Africa.

As part of the preparations, Prime Minister Amama Mbabazi on Tuesday received Mr. Paul Sinclair the Events Coordinator and Amanda Basi the Events manager, to discuss the preparations of Government and the key investment opportunities in the areas of energy, oil and gas, agriculture and infrastructure development.

Flanked by the Minister of Works and Transport, Abraham Byandala, Minister of State for Minerals, Peter Lokeris and the Minister of State for Animal Industry, Bright Rwamirama, Mr Mbabazi said Government is putting together viable projects in a format that adheres to international standards to enable potential investors make concrete decisions on preferred areas of investment.

“Our focus is on power generation. We need sufficient power to promote industrialization,” said Mr Mbabazi, adding that Government was committed to promoting investment in the country.

The ministers also highlighted the possible investment opportunities in their respective sectors like partnerships for developing large and small hydro projects and development of thermal projects using gas and heavy fuel oil.

Mr Lokeris said there were many investment opportunities in the gas, oil and minerals sectors adding that Government intends to develop these resources in partnership with the private sector in a sustainable manner.The Agricultural sector has vast opportunities, especially in agro- processing, post-harvest handling, mechanization of agriculture and provision of water for production, among others.

Mr Byandala also highlighted opportunities in developing regional transport infrastructure projects such as roads and railways in addition to constructing an airport and roads in the Albertine region and the tourist areas.

The meeting was also attended by the Executive Director Uganda investment Authority Dr.Frank Ssebowa who rooted for the active participation of the Uganda Private sector players at the Global African Investment summit.

SOURCE: Daily Monitor

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