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President Museveni, Indian Businessman Discuss Investing in Uganda

Wednesday, 19th July 2017
President Yoweri Museveni has received and held a meeting with a delegation of Indian entrepreneurs who were led by the Chairman of International and NRI – Corporate Affairs, Mr. Inder Igbal Sing Atwal, who called on him at State House, Entebbe last Tuesday. State Minister for Privatization and Investment, Hon. Anite Evelyne, attended the meeting.

The President and his guests, who also included the Indian High Commissioner to Uganda, Mr. Ravi Sharkar, discussed different sectors that are available for investing in such pharmaceuticals, agriculture mainly coffee and maize production, minerals extraction such as iron ore, making steel, copper and lithium, among others. He noted that minerals, such as copper and cobalt, require to be processed into finished products to be used locally in the making of electricity cables and power transformers. He called on the investors to take interest in the manufacture of cheap batteries that can be used to run electric cars that have been designed by Ugandans adding that they could as well take up the processing lithium for manufacturing batteries.

Mr. Museveni advised the Indian entrepreneurs to exploit a number of products that are abundant in the country for pharmaceuticals, such as maize for starch in the manufacture of malaria tablets, ARVs for HIV/AIDS patients and sugarcane for children’s syrups.

On behalf of his colleagues, the head of the delegation, Mr. Inder Igbal Singh Atwal revealed that they are going to spread the name of Uganda in the whole of India for purposes of drumming up investment cooperation for Uganda especially in the areas of pharmaceuticals, agriculture and minerals extraction and processing.

He also disclosed that they are planning to establish a solar energy plant in Uganda so that solar panels would be produced in Uganda and exported in the region.

ENDS