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MALAYSIAN INC TO CONDUCT FEASIBILITY STUDY IN UGANDA

KUALA LUMPUR, Malaysian Incorporated Services Bhd (Malaysian Inc) will undertake a feasibility study on the development of a multi-billion US dollar eco-satellite city in Kampala,Uganda, at the request of the Uganda Ministry of Lands, Housing and Urban Development,

Malaysian Inc Chairman Esa Mohamed said the feasibility study, to be conducted over a six-months period, beginning tomorrow, would focus on the Naki Gala Estate, covering 485.62 hectares.

Uganda views Putrajaya as a benchmark for development and the Naki Gala Estate will be developed as a new model satellite city for its capital, Kampala, he told reporters after the signing of an Memorandum of Understanding (MoU) to undertake the study.

Esa signed on behalf of Malaysian Inc and the ministry was represented by its minster Musumba Isaac here today and witnessed by International Trade and Industry Minister Mustapa Mohamed and Malaysia External Trade Development Corporation Chief Executive Officer Dr Mohd Shahreen Zainooreen Madros.

Under the MoU, Malaysian service providers under Malaysian Inc would have the opportunity to explore business potentials in Uganda, especially in the reconnaissance for its eco-satellite city, township developments and real estate investments.

Issac said the MoU allowed Malaysia to offer its expertise in Uganda's development while simultaneously being the catalyst for future collaboration between Malaysian communities and Ugandans in the nation's development.

MATRADE statistics showed that trade between Malaysia and Uganda jumped 54 per cent, year-on-year, to RM170.7 million as of October, 2017, mainly driven by exports of palm oil and palm oil-based products, as well as, machinery and equipment parts from Malaysia.

Source: NAM NEWS NETWORK

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