President Museveni to Arab Businessmen, “Africa is Continent of the Tuture”

November 06, 2017

President Yoweri Museveni has said that with improved technology and increased demand for goods and services coupled with mans control over challenges such as diseases, Africa is the continent for the future and is open to business.
"Africa has a lot of resources but also challenges. That was good for man but also good for mans enemies like malaria, Tsetse flies etc but the good news is because of technology the enemies of man like disease have been suppressed and controlled. Technology is driving demand upwards," he said.
The President was recently speaking to members of the Sharjah Chamber of Commerce at the Chamber building in Sharjah.
“Many Ugandans are coming to Dubai, a place where they don’t tax and have a lot of goods. Our economy has recovered and is growing, we need a lot of economic partners for development,” he said.
President Museveni said Africa has been under-consuming but now the demand is going up while that of the rest of the world has stagnated.
“There is room for investment in Africa. But in order to do business, you don’t need demand alone; you need good stimuli like peace, security, infrastructure development and profitability prospects. If you invest in Uganda, you will have access to a large market (Uganda, EAC, COMESA and AGOA which is tax and quota free access to Europe, USA and China,” he said.
The President said Uganda has one of the best investment policies where private property is sacrosanct, no controls on foreign exchange and vast availability of raw materials and investment prospects in agro-processing, minerals, timber, fresh water resources and tourism.
The Minister of State for Investment Hon. Evelyne Anite said there is no better country to invest in In the region and Africa than Uganda which has now developed a one stop centre for information and licensing. She said government is strict in fighting corruption and has developed a hotline for investors to report authorities, individuals or companies frustrating investment.
The Director General, Sharjah Chamber of Commerce and Industry, Sultan Abdula Al Owais expressed interest in doing business in Uganda. He said his delegation included; H.E. Sheikh Majid Faisal Khalid Al Qasemi First Vice Chairman – Sharjah chamber of commerce and industry, H.E. Waleed AbdelRahman BuKhatir , Second Vice Chairman – Sharjah chamber of commerce and industry, H.E. Mohamed Rashid Ali Demas Board Member – Sharjah chamber of commerce and industry, H.E. Ali Mohamed abdalla Al Khayyal, Board Member - Sharjah chamber of commerce and industry, H.E. Khalid bin Butti Al Hajari, Director General - Sharjah chamber of commerce and industry, H.E. Ahmed Al Shamsi, Chairman – Falcon Pack, Mr. Iqbal Othman, CEO – Iffco group, Mr. Tom j Nauwelaerts, Momentum Logistics LLC (A Gulftainer Company), Mr. Elias Fayad, Exports Director – National paints, Mr. Anis Berberi Director Business Development – Petrofac Other members specialize in business in various sectors including food and agro processing, logistics, transportation and warehousing, plastics, furniture, tourism etc.
Later, President Museveni was taken on a guided tour of the Etihad Museum where the rulers of the seven cities of Abu Dhabi, Dubai, Sharjah, Ajman, Fujairah, Rasal Khaimah and Umm all Qaiwaih lie.
The Etihad Museum collects, preserves, and displays the heritage of the United Arab Emirates in the areas of social, political, cultural, scientific, and military history. The museum takes it's visitors to the foundation of phase the UAE. It holds everything from old passports to personal artefacts such as rings, eyeglasses and pocket watches, stamps and letters and other rare items are on display
The Director of the Museum Abdulla Alfalasi led the tour. Here, the founders of the UAE met in 1971 to sign the unification of the agreement of UAE.