Iranian investors invited to Uganda

October 26, 2017 in Business, Investment, Trade & Industry by Editor

October 26—Iranian business enterprises have been invited to set up operations in Uganda, because the private sector is the key driver of economic growth and the government is committed to encouraging both local and foreign investors to sustain it.

Sam Kutesa, the foreign minister was this week hosting his Iranian counterpart, Dr. Mohammad Javad Zarif who was accompanied by several business people. “Iranian companies and individuals should take advantage of the numerous opportunities available in Uganda, especially in agriculture and agro-processing, oil and gas, minerals, ICT, human resource development, energy, Tourism, and infrastructure development,” Kutesa said during the Uganda-Iran Economic Forum in Kampala.

Kutesa said the Forum was an important first step that he hoped would yield tangible economic benefits and help attain the objectives set out in the Memorandum of Understanding signed under the Uganda-Iran Cooperation framework which has evolving over the years.

Dr Zarif said Iranian investors are interested in high-tech agricultural production including nano-fertilizers, pharmaceuticals, bio-technology and manufacturing.

He said science-based Iranian companies are prepared not only to export their products to Uganda, but also to transfer the technology that could eventually benefit the rest of the East African Community member states.