Trade minister invites Italian investors into Uganda (Daily Monitor (Uganda))


KAMPALA.

Trade Minister, Ms Amelia Kyambadde has asked Italian investors to come and invest in the country to exploit the available potential areas of venture.

According to the Minister, Uganda is the best destination to invest because of the prevailing peace and stability, skilled youthful population, infrastructural development to enhance trade, available untapped natural resources including oil and other minerals, agriculture, diversity of culture as well as agriculture.

“Make Uganda your source of exports, invest in Uganda, and visit Uganda. As Government, we have created an enabling environment for business,” said Ms Kyambadde adding that for tourists, the country is positioned in the heart of the great lakes region with the most beautiful scenery.

Speaking at the opening ceremony of the National Day celebrations at Milan EXPO 2015 for Uganda, the minister said she asked the Italians to make Uganda their source of exports, invest, and visit “As government, we have created an enabling environment for business.”

Ms Kyambadde said that the Expo that attracted 143 countries (Uganda and Itlay) as ‘an opportunity for our two countries to consolidate our economic ties.’

“Expos are important for country showcasing and branding increasing the visibility of its goods and service across nations. Uganda, the Pearl of Africa is a producer of organic food and exporter of agricultural and agro-processed value added products,” she said.

The expo running till end of October is conducted on the theme “Feeding the Planet, Energy for Life” this resonates with Uganda’s country theme, “Enhancing Food security with coffee”.

Ms Kyambadde said that Uganda export food and other products to Italy.

“Uganda’s exports to Italy grew by 26 percent from $ 57.1million in 2013 to $98.5million in 2014.The main exports include among others coffee ($72.1 million), fish fillets ($6.7 million), Hides skin ($12.2 million) and cocoa beans ($4.1 million),” she added.

The minister said there potential to improve trade through export of value added products and utilization of vast untapped resources following the recently concluded market access agreements that granted duty free and quota free access to the European Union market.

Currently, Uganda Coffee Development Authority and CaffeMotta a coffee company in Salerno, Southern Italy are in partnership the company purchases 30 percent of 30 per cent of Uganda’s coffee.

The move followed a memorandum of Understanding expressed that the quality of our coffee, especially Robusta was perhaps the best in the world.

Ambassador Dr. Mumtaz Kassam, the Charge d’ Affaires, at the Uganda Embassy Rome in Italy said “the globe has been in Milan since May 2015 and has put up a remarkable show.”

He said that Uganda should maximise the expo potential particularly in terms of agro business, its value addition and tourism.

ekasozi@ug.nationmedia.com

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