Uganda: President Museveni and Turkish Trade Minister discuss investment

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President Yoweri Museveni met and spoke with Turkey’s Deputy Trade Minister, Mr. Riza Tuna Turagay, with whom they discussed a series of business opportunities between the two countries on the sidelines of the Uganda Summit -Turkey on investment, trade and tourism in Munyonyo. Commonwealth Complex.

President Museveni has informed the visiting Turkish Trade Minister that Ugandans are now waking up and engaging in agricultural production which is why he wants more factories for value addition.

“For us, we don’t insist on factory ownership, what’s important is to invest here. I don’t care whether they belong to Turkey or whether they belong to us. These companies create value for locally made products, they use our electricity, our water and create jobs,” he said.

The President thanked the Turkish government for expressing interest in investing in Uganda, adding that relevant ministries should expedite the process of signing a Memorandum of Understanding regarding economic transformation, investment protection and promotion, between others.

Minister Turagay said his country is interested in investing in Uganda given its potential, adding that Turkey has specialized in the production of textiles and industrial products.

He said they currently enjoy a trade volume of US$70 million with Uganda and generate a total of US$225 billion annually from its global exports.

More than 90 Turkish companies were present at the summit.

The President then met with a number of Turkey-based entrepreneurs, particularly those who expressed interest in coming to Uganda to invest in the construction industry and technology, among others.

The meeting was attended by Turkish Ambassador to Uganda, HE Karem Alp, Minister of State for Foreign Affairs, Okello Oryem, Minister of State for Investment and Privatization, Hon. Evelyn Anite among others.

Distributed by APO Group on behalf of the Republic of Uganda – Ministry of Foreign Affairs.

This press release was issued by APO. Content is not vetted by the African Business editorial team and none of the content has been verified or validated by our editorial teams, proofreaders or fact checkers. The issuer is solely responsible for the content of this announcement.


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