01
Apr
President Museveni has said Uganda’s business regulatory framework is friendly because it gives investors the leeway to repatriate profits to their home countries without any obstacle.
The President made the remarks at the Boao Forum for Asia (BFA) Annual Conference 2015 in China’s Southern Hainan Island Province at the weekend under the theme: “Asia’s New Future: Towards a Community of Common Destiny.”
Mr Museveni, who extensively spoke about Uganda’s tourism potential, citing the Equator and snow-capped Rwenzori Mountain, also called for Asia-Africa alliances to work towards prosperity.
“The regulatory framework is also friendly to the investors. They can repatriate profits without any restraint,” he said.
Mr Museveni observed that the theme of the conference coincided with some of Uganda’s beliefs.
“Our starting point is always the prosperity of the farming families in Uganda, manufacturing companies, service companies and recently those engaged in ICT-enterprises,” he said.
“Prosperity is made possible by two primary actors- the entrepreneur and the consumer of those goods and services. Without these two actors, there can be no wealth creation or the catering for human needs for food, shelter, medicine, mobility in the modern sense,” the President added.
Mr Museveni also told the summit that Uganda, together with other East African countries, have formed the East African Community to strengthen trade and enjoy other benefits
“This correct decision of creating integrated markets so as to end the colonial fragmentation of the African market is in the process of removing one of the strategic bottlenecks that has impeded socio-economic transformation of our continent, he added.
The conference, which started on Thursday and officially opened at the weekend by Chinese President Xi Jinping, was attended by other 20 heads of state, business and political leaders worldwide.
Only two African presidents, Mr Museveni and Zambia’s newly elected Edgar Langu are attending.
Mr Jinping urged the international community to build a common destiny on four pillars, including respecting one another.
Expected agenda
While in China, President Museveni is expected to hold discussions with President Jinping, possibly on the $8 billion Standard Gauge Railway and also hold meetings with Exim Bank officials, bankrolling the construction of the 600 MW Karuma Hydropower Dam and the 188 MW Isimba Hydropower Station.
Source: http://www.monitor.co.ug/News/National/Museveni-woos-Asian-investors/-/688334/2669864/-/ajyfwg/-/index.html