Qatari investors enjoy an edge in Uganda: Minister

23-5-2017

Uganda’s Finance Minister on Tuesday highlighted the economic opportunities in her country as she sought to enhance Qatari investments in the East African nation.

“Uganda is offering Qatari investors exclusive benefits, including tax relaxations and fast-track licensing procedures,” the Minister of Finance, Planning and Economic Development, Evelyn Anite, said.

Speaking at a meeting held at the Qatar Chamber (QC), Anite said Uganda has set up a one-stop investment centre, which brings all necessary government agencies to one location to provide streamlined and hassle-free services to investors.
The meeting was attended by a high-ranking Ugandan delegation and a number of Qatari investors and QC board members, headed by its Vice Chairman Mohammed bin Ahmed bin Twar.

At the meeting, they discussed the means of enhancing mutual cooperation and reviewing the available investment opportunities in Qatar and Uganda, as well as the possibility of establishing partnerships between businessmen in the two countries.

The delegation’s Qatar visit comes within weeks of Uganda President Yoweri Kaguta Museveni’s state tour of the country. Then, he had promised to open an investment office in Doha to primarily promote tourism out of the Ugandan Embassy in Qatar.

Besides, Museveni has said, Uganda offers free entry and exit permits to investors. “Let the Islamic Bank come up in Uganda; it will save investors from the challenge of high interest rates,” he added.

Addressing the delegation, Twar said Qatar Chamber was keen to contribute significantly towards strengthening trade ties between Uganda and Qatar and to achieve maximum cooperation between their private sectors.

Twar also welcomed the idea of holding a Qatari-Ugandan business forum at the Qatar Chamber soon.

“This significantly assures that we all have sincere desire to strengthen our bilateral trade and economic relations,” he said.

Twar said Qatari businessmen were keen to explore the investment opportunities available in Africa, particularly in Uganda, which he termed as a big market with a huge growth potential.

“Uganda is a good investment destination for businessmen in various sectors, including agriculture, food industry, mining, oil exploration, Islamic banking, as well as tourism,” he said.

Twar urged Qatari businessmen to explore trade and investment opportunities in Uganda.

The president of the Association of Ugandan Businessmen said the business community in his country wanted to establish partnerships with Qatari businessmen to establish joint projects in Uganda or Qatar.

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