The Prime Minister, Dr Ruhakana Rugunda has said Uganda greatly appreciates the relationship between the Province of Hunan and the Republic of Uganda. He said the Province of Hunan in China has built a solid relationship with Uganda in the areas of political, diplomatic, trade and economic fronts.
He highlighted that China is the leading exporter of commodities to Uganda and the leading source of foreign direct investment and bilateral flows in the country.
The Premier made the remarks while officially receiving the Governor of Hunan Province, Xu Dazhe to Uganda at the Office of the Prime Minister in Kampala on Thursday.
The Prime Minister led the Ugandan team in bilateral talks with delegates from Hunan province of China on the Hunan- Uganda Cooperation at Serena Hotel, Kampala.
Dr Rugunda noted that the province of Hunan and Uganda have great potential to collaborate in the sectors of Agriculture, Tourism, Mining, Power generation and Industrial parks development.
He called upon the investors of Hunan Province to take advantage of the investment opportunities available in Uganda including the development of a Hunan Uganda Industrial park.
“Uganda offers an excellent investment destination and we invite Your Excellency Governor, Xu to encourage more investors to come to Uganda. Uganda is very stable politically. It has a policy of allowing investors to repatriate profits without restrictions and a one stop center to take care of investors at Uganda Investment Authority,” Rugunda said.
He added that Uganda is strategically placed to offer investors access to various markets including the East African Community (EAC), Common Market for East and Southern Africa (COMESA) and the recently signed African Continental Free Trade Area among others.
Rugunda proposed the strengthening of the Institutional framework for trade and Economic Cooperation with the People’s Republic of China.
“Uganda Government has now taken a decision to create specific institutional arrangements for the implementation of the trade and economic cooperation with China, but specifically to handle cooperation with Hunan province,” the Premier said.
He requested the Government of People’s Republic of China to assist the Chinese investors with more affordable funding through the forum for China Africa Cooperation.
His Excellency, the Governor of Hunan Province, Xu Dazhe said the Chinese Government attaches great importance to the relationship it has with Uganda and Africa at large.
He said there is need to seek more economic opportunities between Uganda and Hunan Province, adding that Hunan Province is ready to strengthen cooperation with Uganda in areas of Agriculture, Machinery, Food Processing and Infrastructure among others.
Xu also called for enhancing of trade between Uganda and Hunan Province by free exchange of trade commodities.
The Meeting was also attended by the Government Chief Whip, Ruth Nankabirwa, the Minister of State for Foreign Affairs, Okello Oryem, Minister of State for Investments, Anite Evelyn, Minister of State for Tourism, Godfrey Kiwanda, Heads of Government Agencies and Delegates from Hunan Province.
Thursday, June 21, 2018
BY DOREEN NASASIRA