Kyambadde hails Netherland over investment

By Darious Magara    

Trade minister, Amelia Kyambadde, has praised the Netherlands Government for delivering on its agreements with the Ugandan Government by investing and support trade in the country.

The minister said Uganda would cement its trade and investment relations with the Netherlands Government and projects that are being implemented in the country.

She made the remarks on Sunday while meeting the Netherlands minister of foreign trade and Development cooperation Lilliane Ploumen at her office at Farmers House.

Ploumen who was accompanied by the Netherlands Ambassador to Uganda Alphons Hennekens pledged to attract more investors and to support Uganda in investment and trade.

Kyambadde emphasized that as much as Uganda had trading opportunities in the East African Community (EAC); the country needs to adapt better technology and skills to trade in bigger and international markets.

“We have vast experience in cooperatives and finance, we can share our experiences so that the Ugandan Government can borrow a leaf and move further in its development path,” Ploumen said.

Kyambadde said “the Government attracted a number of investments from Netherlands such as Rabo Bank partnership with DFCU bank, ABI Trust, ZOA establishment, SNV operations in northern Uganda and, UCOP in Mbarara”.

She said other investments are; Holpark in Jinja, Matooke travel Agency, Games Nest and Rwenzori view. 

The minister said the investments follow an agreement signed between the two countries on promotion and protection of investment in 2000.

Kyambadde also said that the trade between the two is also governed by the 2007 Framework for Economic Partnership Agreement (FREPA) concluded between the EAC and European Union (EU), which extend preferences to the parties.

She said Uganda is a beneficiary of ‘Everything but Arms’, a duty free quota free trading arrangement extended to exports from LDC into the EU market.

Kyambadde saluted Netherlands for the support extended towards export development in West Nile region, Civil service reforms ($1.2m), District Development program for Lira and Soroti Districts among others.

She highlighted Ugandan’s investment potential because of its strategic location, abundant natural resources and favorable climate, human resources, incentives to investors, and challenges of infrastructure development which offers opportunities of investment for foreign and other investors.

Kyambadde said areas of investments are; in Agro-processing /Agri-business, infrastructure development, oil refining and related infrastructure and mining. Others are transport and tourism.