China eyes Uganda as investment destination

Photo Courtesy: News Vision

Director General for African Affairs at China’s foreign affairs ministry Wan Li, told a visiting delegation from Uganda that China will encourage more investors to set up businesses in Uganda, if the county would create a better environment to attract more investors.

“China and Uganda had a long history of cordial relations for more than 56 years. We are good friends, partners and brothers,” said Li. He praised the hospitality of Ugandan people and said he felt at home, when he was there.

Wan Li was responding to the request from the Government spokesperson and head of the Uganda Media Centre, Ofwono Opondo.

Opondo thanked China for its support to Uganda in infrastructure, agriculture and investment. He requested the Chinese ministry to encourage more Chinese to set up investments in Uganda, especially in tourism and hospitality industries and to partner with local companies to enhance local production.

China is Uganda’s largest source of foreign investment with investments worth $4.2b.  As per the recent reports, the number of Chinese tourists coming to Uganda has been rising with at least 20,000 Chinese nationals visiting Uganda in the year 2016. Considering the vast resources of Uganda this figure is not a big deal, said Li. “However, there is huge potential for Uganda to benefit from our close ties,” he added

The two leaders agreed to increase mutual visits of their professionals, support each other in international issues and promote mutual understanding of their people.