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President Museveni Invites American, Egyptian Investors

President Museveni Addressing Business Executives at a luncheon, May 07, 2002 in Washington D.C

Speaking at a Luncheon hosted in his honour by the Corporate Council on Africa (CCA) on May 7, 2002 in Washington, President Museveni urged American business executives to invest in Uganda under AGOA. He pointed out that they will benefit from the numerous investment opportunities and help both countries and the African continent to prosper. President Yoweri Museveni visited Egypt, May 29, - June 2, 2002. He extended an invitation to Egyptian companies to massively invest in Uganda to take advantage of exporting to the American market now to African countries under the African Growth Opportunity Act (AGOA) arrangement. Addressing a cross section of Egyptian entrepreneurs and their Ugandan counterparts at a Seminar held on June 01, 2002 in Cairo, President Museveni

described AGOA as the only favourable offer by America to Africa in the last 100 years.The seminar’s theme was "Invest-mentOpportunities in Uganda".

President Museveni called upon Egyptian investors to take up the opportunity offered by AGOA by investing in such sectors ase textiles, coffee, agriculture, fruits, beef, and leather products. He assured them of favourable investment incentives that will improve further in the coming financial year.

The President strongly supported the suggestion by the Egyptian Prime Minister Dr. A. Ebeid that a joint trade board between Uganda and Egypt be formed to identify exports and imports between the two countries.

The Egyptian Premier thanked President Museveni, the government and people of Uganda for preserving the River Nile. He observed that the river is an important source of life to the
people of Egypt. He lauded the fruitful negotiations and the agreements reached between Uganda and Egypt to concretise the preservation of River Nile. He also reaffirmed the commitment of the Egyptian government to further strengthen and deepen the already existing cordial relationship, understanding and co-operation between the two countries.

Dr. Ebeid assured President Museveni that Egypt has a market for Ugandan products such as wheat, maize, coffee, sugar, oil seeds, tea, cotton and tobacco.

The Executive Director of Uganda Investment Authority, Dr. Maggie Kigozi highlighted to Egyptian entreprenuers the investment opportunities in Uganda. She singled out the Vermiculite mineral that can be used to reclaim desert areas.

The Director of Kato Aromatics Dr. Ibrahim Kamel also reassured Egyptian investors of the unequalled conducive conditions existing in Uganda for immediate investment.

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