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Museveni lauds UK-based forest investors

By Vision Reporter

Added 27th September 2012 05:57 PM

President Museveni has commended the proprietors of the New Forests Company for their contribution to the growth of Uganda’s forestry sector which, he said, had played a big role in import substitution.

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President Museveni has commended the proprietors of the New Forests Company for their contribution to the growth of Uganda’s forestry sector which, he said, had played a big role in import substitution.

By Vision Reporter

President Museveni has commended the proprietors of the New Forests Company for their contribution to the growth of Uganda’s forestry sector which, he said, had played a big role in import substitution.

He made the remarks during a meeting Thursday morning with a delegation of UK based investors who called on him at his country home in Rwakitura, Kiruhuura.

The delegation was led by the Chief Executive Officer (CEO) of New Forests Company, Julian Ozanne. The company has 11,000 hectares of land planted with trees at Namwasa plantation in Mubende district and at Luwunga plantation in Kiboga district as well as at Kirinya plantation in Bugiri district, Busoga Sub-region, eastern Uganda.

The Company was formed in 2004 and is also present in Tanzania, Mozambique and Rwanda with combined total forest plantations of 90,000 hectares. It is capable of harvesting timber from 27,000 hectares of land in Uganda on which it has groomed forests.

The President said that the ventures of the company are in line with the policy of the Government of Uganda with regard to import substitution.

He urged the investors to work out a programme to add value to the maize crop in the country so that the country could export finished maize products in addition to producing animal feeds as one of the crop’s bi-products. He said that this strategy would also complement and boost the poultry sector in the country.

The President suggested to the Company to look into the utilisation of the land in Masindi and Kigumba districts in Bunyoro Sub-region as well as in Kamwenge district in Tooro Sub-region for the production and processing of the maize crop.

He also informed the delegation that Uganda cherishes more investors coming into the country to participate and boost local production as well as inject further impetus in the running and boosting the business tempo.

Museveni commends UK-based forest investors

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