​43 enterprises from China to participate in China-Uganda expo

INVESTMENT

The four-day expo will start on 23 to 26 July aimed at seeking to explore investment opportunities in Uganda and identify future partnership and joint ventures with local small and medium enterprises.

The expo will explore investment opportunities in Uganda in a wide range of industries including engineering machinery, energy equipment, agricultural processing products and equipment, automobiles and among others.

Speaking during a press conference held at Kampala Serena last week, Steven Kabagambe, the Acting Secretary-General, Uganda National Chambers of Commerce and Industry noted that coming up with such an initiative will fulfil some of the requirements of building Uganda and Buying Uganda (BUBU).

"Uganda is a developing country and one of the key areas to tackle in the vision 2040 is industrialization. So this expo will bring in investors from China and different companies hence need to partner with them, have joint ventures, attract them to establish industries here and through that, we shall have skills development, produce quality goods," he said

Kabagambe added "it will also improve on our quality assurance of products and well-packaged products, thus globally which is one way of helping in buying Uganda and bringing in dollars and many other currencies,"

Zhao Xiufen, the Economic and Commercial Counsellor of Chinese Embassy said the China-Africa exposition is one of the initiatives to further promote the implementation of the new measures of the Beijing summit and build a platform for economic and trade cooperation between China and Africa.

"During the Beijing Summit for the Forum on China-Africa Cooperation held in Beijing, in September last year, Chinese President Xi Jinping announced that China will launch eight major initiatives together with Africa, draw a blueprint for the development of China-Africa relations in the new era, and open a grand chapter in China-Africa cooperation in the new era," she explained

Lydia Sun, the Project Team Manager, CIEC Overseas exhibition Company Limited said hosting the China-Uganda Industrial Cooperation Exposition in Kampala is a clear demonstration that the partnership between China and Uganda is moving towards a deeper and higher level.

"With the ambitious construction of the Belt and Road initiative (BRI), pragmatic cooperation between China and Uganda will strongly promote Uganda's economic and social development and inject momentum to the realisation of Uganda's Vision 2040," Sun said.

Martin Muhangi, a representative from the Uganda Investment Authority noted that we are showcasing to ensure that we have more projects set up here and create more employment opportunities for our people.

Adding " the expo will also help us to inform the foreign investors the regulatory efficiencies we have undertaken as a country besides that, we hold the third position in Africa with an investment portfolio of USD250m I think that is a very big plus for this operation to be held in Uganda." Muhangi explained.  

Mubaraka Mkuutu, the Director Membership Services Uganda Manufacturers Association (UMA) urged investors and organisations to participate and use this chance to exhibit their products.

"This is a platform for governments, businesses and trade circles between China and Uganda to work hand in hand, promote trade and investment to achieve mutual benefits," he said

Nkuutu added that the forum provides opportunities to showcase many products and economic development concepts including symposia and other concurrent events designed to enhance networking and information exchange between Chinese and Ugandan enterprises as well as promoting industrial capacity cooperation on projects between the two countries.

The expo is organized by China Council for the Promotion of International Trade (CCPIT) in collaboration with China Africa Development Fund, Uganda Investment Authority and Uganda National Chamber of Commerce and Industry.

This is the first in Uganda but the third in a series of China-Africa expositions having held the first two in Kenya and Ethiopia in November and December 2018 respectively.