Tayebwa urges German MPs to woo home investors to Uganda

KAMPALA– The Deputy Speaker of Parliament, Thomas Tayebwa has asked legislators from Germany to encourage the European country’s investors to come and invest in Uganda, saying the latter has immense investment opportunities.

Tayebwa told a delegation from the Bundestag [Germany’s National Assembly] led by Stefan Rouenhoff, who represents the State of North Rhine-Westphalia, that the country has vast potential for investment.

“We do need to see more, especially in the plan to build more industrial parks; Uganda supplies DRC, South Sudan and Rwanda. We are land locked as we used to study in geography but now we changed from being landlocked to being a ‘land linked’ country,” Tayebwa said.

Tayebwa said the National Resistance Movement [NRM] government has been creating an investment-friendly environment through ensuring peace and security, stabilizing the Uganda shilling and offering attractive incentives to investors.

He told the German legislators whom he led on a guided tour of the Parliament building that there is an abundance of investment opportunities in agro-processing, value addition to minerals, oil, and gas as well as infrastructure such as the construction of the railway.

He urged development partners to review the conditions of concessional loans offered to African countries adding that the Chinese have become a better option, especially in infrastructure development because of their flexible terms.

“The Chinese investments are doing extremely well not only in Uganda but across Africa; it is a situation we had to face and make choices because of the condition of the loans that were coming from the western world. The western world wasn’t ready to venture into investing in the projects,” he said.

He added that “we do believe that if you are giving me money, I am going to pay back; so why tag in so much that is not going to contribute to the payback of this money?  As Africa, we have to be very conscious so that we don’t go into a debt trap much as we want to transform our economy.”

Tayebwa commended the German government for the good bilateral relations with Uganda.

https://thecooperator.news/tayebwa-opts-for-dialogue-on-use-contraceptives/

Buy your copy of theCooperator magazine from one of our countrywide vending points or an e-copy on emag.thecooperator.news