Museveni meets South Korean president

By Vision Reporter

President Yoweri Museveni has held talks with his South Korean counterpart Park Geun-Hye at the presidential Blue House in Seoul.

Museveni is in Seoul for a three-day visit is the first foreign head of state to visit South Korea for summit talks with Park since she took office in February.

The President earlier met potential investors. He told that in spite of some bottle-necks, the rate of return on investment in Uganda is as high up as 25%.

Accompanied by several ministers, Museveni urged the business community in South Korea to invest in Uganda stressing that the Ugandan economy has been growing at the rate of 5.3% annually and it is likely to grow to double digits now that the problem of reliable power has been tackled by the government.


AFP/PHOTO 

President Museveni pointed out that the tourism sector is very attractive because of the unique climate of Uganda which is on the equator but with constant ice on its mountains. He explained that there are only three countries in the world that have a similar climate.

He said that investing in Uganda and the East Africa was lucrative explaining that   Uganda has a population of 35 million people, while   the East African Community which comprises of five member countries have a total of   139 million people. Uganda is also a member of SADC and PTA economic blocs.

Apart from other official engagements, the President had by yesterday visited several establishments including the headquarters of Samsung, a global leading electronic giant in electronics and the institute known as the Korea Project on International Agriculture.

Interacting with the staff, at the agricultural institute, President Museveni told the Director, Mr. Kwon Taek  Ryoum that Uganda has a similar research institution through NARO where a lot of research has been  undertaken by Ugandan scholars.