ENTEBBE: President Museveni wants Turkish investors to get more involved in Uganda’s new mining industry so that it can reach its full potential.
When he met with Turkish investors at State House Entebbe, Museveni said that he didn’t like the idea of the country’s people living in a country that didn’t like them.
“We are very interested in mineral development. On gold, we have our own, but also, because of the security, exports have gone up in the region. We have removed all taxes on refined minerals. “If we can refine gold here, our people can benefit through making jewellery,” he said.
The President said other priority minerals include industrial steel, phosphates, copper, tin, pharmaceuticals, and agro-processing. We have got high-grade iron ore, and we need an integrated steel industry. We are now importing steel from China, which is very expensive. We have some steel mills using recycled steel, which is of low quality. But we need strong steel for railways, dams, etc., “he said.
Among the investors, the president met with the Vice President and Chairman of the DEIL Business Council, Dogan Ali Dogan. The company deals in retail, energy, construction, and furniture and is already involved in the construction of Uganda’s National Industrial and Business Parks and Agro-Industrial Business Parks.
The company has also already signed a letter of intent with the government to explore investment opportunities in Uganda with an estimated value of USD 125 million. “Turkish companies can partner with us and process 100 percent of their products and link with industries.” The areas for investment opportunities are endless, Museveni said. ”
For his part, Ambassador Kerem said Turkish investors are interested in the agro-industrial sector, including fruit and vegetable processing, cold stores, training centres, and agro-industrial schools.
According to Kerem, Uganda’s exports to Turkey increased by 30 percent in the first nine months of 2021. Evelyne Anite, the Minister of State for Finance in charge of Investment and Privatization, said that this May, Uganda will host the Uganda-Turkey Investment Summit in Kampala. She asked that the president come and be a part of it.
