South Korea eyes rural satellite communication

By Vision Reporter

President Yoweri Museveni has called on South Korean investors to tap into Uganda’s abundant resources, saying Uganda is a rich country with many resources that need to be exploited for development.

He cited Phosphates, oil and iron ore and added that as an agriculture based country there is need for investors to work with Government in promoting agro processing by adding value to the raw materials.

He called on them to tap opportunities of using River Nile for water transport since a good part of it navigable.

Museveni was  meeting a delegation from the South Korea Chamber of Commerce led by the Chief of Mission of the Embassy of the Republic of Korea, Mr. Park Jong-Dae at State House in Entebbe. The Delegation has been attending a business forum in Kampala.

The President said that the country needs investments in energy, roads, ICT and railways and said that the NRM Government has made preparations for the UPDF Engineering Brigade to construct the railway network. He said that he wants to work with the Korean Government sector in road construction.

Museveni highlighted the Government’s priority of promoting the manufacture of electric cars and buses, adding that there are more opportunities in energy, petroleum & gas, automobiles and machine building.

He said that he looks forward to the reunification of North Korea and South Korea. He advised the business men to work closely with the Uganda Industrial Research Institute while promoting their ventures. He further urged them to cooperate with the Faculty of Food Science and Technology and the UPDF Engineering Brigade.

The Head of Mission of the Embassy of the Republic of Korea, Mr. Park Jong-Dae commended the good diplomatic relations between Uganda and South Korea for the past 50 years. He expressed special interest in investing in energy, oil and gas and ship building. The delegation also expressed interest in promoting satellite communications particularly in the rural areas.

They revealed that the South Korean Exim Bank is prepared to provide financing at a rate as low as 0.01%.