Uganda offers unlimited business opportunities to investors: envoy

ISLAMABAD (DNA): Dr. Mohamed Ahmed Kisuule, Ambassador of the Republic of Uganda to Iran and accredited to Pakistan said that Uganda offers unlimited business opportunities to Pakistani investors in many fields of its economy and they should explore Uganda for investment and joint ventures.

He was addressing the local business community at Islamabad Chamber of Commerce & Industry and was accompanied by Mr. Mwanika Brian Phenox Second Secretary Embassy of Tehran and Mr. Ocen Milton Assistant to the President of the Republic of Uganda.

He said foreign investors were earning 300-400 percent margins in Uganda, especially by in steel sector and Pakistani businessmen should enhance their presence in Uganda to earn lucrative returns.

He identified pharmaceutical, steel, marble, food processing and many others as potential sectors for investment in Uganda. He said Uganda offers cheap land and full protection to foreign investors and Pakistani investors should take full benefit of these attractive incentives.

He said Uganda was also a gateway for Pakistan to get access to East African countries and it was the right time for Pakistani businessmen to establish themselves in Uganda to tap all the available business potential and penetrate the huge Eastern African market.

Speaking at the occasion, Muhammad Shakeel Munir said Uganda was still an explored market for Pakistani entrepreneurs due to which share of Pakistani products was nominal there. He said both countries should encourage frequent exchange of business delegations and organize exhibitions to transform the untapped business potential into advantages for both sides.

He said many Pakistani products including rice, textile, pharmaceutical, surgical, sports goods & leather goods, marble products, home appliances & food products etc. have great potential to meet the needs of Uganda and East African markets and both countries should take measures to remove all the bottlenecks that were hampering promotion of bilateral trade between Pakistan and Uganda.

He assured that ICCI would like to work closely with Embassy of Uganda in Iran and Pakistan to bring private sectors of both countries closer in order to explore all avenues of mutual cooperation for economic benefit of both countries.

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