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Premier Mbabazi meets Swedish finance minister

By Vision Reporter

Added 26th February 2014 07:28 PM

Prime Minister Amama Mbabazi has invited Swedish investors to come to Uganda and take advantage of the lucrative trade and investment opportunities.

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By Vision Reporter

Prime Minister Amama Mbabazi has invited Swedish investors to come to Uganda and take advantage of the lucrative trade and investment opportunities.


Mbabazi said Uganda has favorable conditions for investment, adding that the country is ready to give prospective investors all the necessary support they require to invest in the country.

Premier Mbabazi made the remarks in a meeting the Swedish minister for finance, Anders Borg who called on him at his office in Kampala.

The Swedish finance minister was in the country to discuss business opportunities which can be exploited by Swedish nationals who intend to invest in the East African region.

 As a measure to promote investment, Mbabazi said government has reached a decision to use revenues from the Oil sector to improve infrastructure especially roads, railway and electricity in addition to modernizing the agricultural sector.

He said the country has put in place the necessary laws to manage the oil resource adding that Government plans to construct the railway line connecting to Rwanda, Democratic Republic of Congo and the Republic of South Sudan to facilitate trade and investment.

The Premier said Uganda has improved the national power grid from 60MW in 1986 to 850MW by constructing more power dams and rehabilitating the old ones, adding that more power generation will promote industrialization in the country.

“We still have a long way to go but we are determined to make it,” Mbabazi said.

He said many leaders in the NRM Government have a special relationship with Sweden because it hosted them during the liberation struggle that brought the NRM Government to power.

The Swedish finance minister who was accompanied by the Swedish Ambassador to Uganda, Urban Andersson and other officials hailed Uganda for the rapid economic growth and stability adding that the relationship between the two countries is excellent.

He also applauded the process of the East African integration which has eased doing business within the region, adding that measures such as reducing the number of days it takes for goods to move from Mombasa to Kampala from 18 days to four  days is a great achievement.

The cooperation between Sweden and Uganda is in the areas of Democratic Governance, health, support to the Private sector, security and defence as well as research and education.






 

Premier Mbabazi meets Swedish finance minister

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