backgroundimage

President Directs UIA to Licence Saudi-Based Investors in water Transport

Saturday 28th April 2018
President Yoweri Museveni has directed Uganda Investment Authority (UIA) to licence water transport investors from Saudi Arabia. 
“I direct Uganda Investment Authority to issue you a water transport license. You can serve the Kampala- Kisumu- Mwanza route. You can also serve the water link between Kampala and Entebbe. You may also invest in the exploration of iron ore and copper on condition that the metals undergo value addition,” he said.
The President made the directive yesterday at State House Entebbe when he received and met a joint delegation of investors from Saudi Arabia, the United Arab Emirates and India whom he encouraged to also invest in the hotel industry. The Chairman of Trade and International Chamber of Commerce of Saudi Arabia, Mr. Eid Abdulhadi Al Olaibi, led the delegation. 
The President told the delegation that they are most welcome to build hotels in towns in the country and in the National Parks adding that the Government would provide them land for the development of hotels.
Mr. Museveni also interested them in agriculture and assured them that there is enormous potential in organic farming in the country. He advised them to consider undertaking fruit processing and starch production leading to the manufacture of biscuits and other confectionaries from bananas. He observed that bananas are better than wheat when it comes to making confectionaries. He suggested to them consider engaging in the production of upland rice that is not destructive to the environment and that the Government can avail them land to establish coffee and tea 
The President further briefed his guests on immense opportunities in infrastructure development adding that to tap into that sector, they should register their construction firms locally and partner with Ugandans. He also informed them that the Government is interested in assembling computers in Uganda to ease their availability to schools. He pledged to enable them get land for the establishment of tea and coffee processing plants. 
Mr. Eid Abdulhadi Al Olaibi, on behalf of the delegation indicated interest in developing water taxis to serve the Kampala – Entebbe routes as part of measures to avoid traffic congestion as a way of availing reliable transport to wananchi. He also expressed their interest in promoting water transport on Lake Victoria to link the towns of Kampala and Kisumu in Kenya and Mwanza in Tanzania.
Mr. Olaibi also revealed that they would like to establish tourist hotels in Lake Victoria islands of Lake Victoria for the establishment of 7-star tourist hotels and resorts to promote tourism.
 
ENDS