China's Hunan Province, Uganda sign cooperation agreement

Visiting officials from central China's Hunan Province and the Ugandan government on Friday signed a cooperation agreement aimed at boosting trade and investment.


The agreement signed here was witnessed by Uganda's Prime Minister Ruhakana Rugunda and Xu Dazhe, Governor of Hunan Province.

The agreement calls for cooperation in five key priority sectors of agriculture, mining, energy (hydro power, solar and wind energy), tourism and industrialization designed to benefit both sides.

"If you want to make money, the place to invest is Uganda. Let me ask you the Chinese investors to be more robust to come and invest in prioritized areas. You have heard of infrastructure, tourism, agro-processing and industrial parks," said Rugunda.

"Uganda intends to have 22 industrial parks. We are looking for partners in industrial parks. I believe Hunan Province will take some of these industrial parks so that it can catalyze the process of doing business between Uganda and China," he said.

Zheng Zhuqiang, Chinese ambassador to Uganda, said the east African country should showcase good policies and tax incentives to attract more Chinese investors into the country.

"They know this country welcomes foreign investors. Uganda should demonstrate and showcase the policies on investment, what kind of incentives and preferential policies can be given to them," said Zheng.

Crispus Kiyonga, Uganda's ambassador to China, said Uganda is working to attract investments from other Chinese provinces.

"They (Chinese) have experience and capacity. We are going to work with them to develop and modernize at the first rate," he said.

Xu and his 80-member delegation also met with President Yoweri Museveni to express their intention to invest.


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