Uganda: Chinese investors to export finished local products

OIsmail Musa Ladu - Kampala

The Chinese business community under the newly formed Chinese Chamber of Commerce in Uganda, intends to start exporting value added goods to China and other regional markets.

This is a step forward in transforming the notion of most of the developing countries in Africa, including Uganda of exporting ‘raw materials’ to the developed countries.

The move means that agricultural produce such as coffee, milk, beans and leather will first undergo processing before exportation to China and the East African regional markets.

The Executive Director of Uganda Investment Authority, Dr Maggie Kigozi said the development will spur economic growth and enhance employment opportunities in the country.

“The government has always preferred such arrangements with the developed economies arguing that it is better than billions of aid flowing from the West,” she told Daily Monitor in an interview recently.

Dr Kigozi said there will be no fears that the Chinese Chamber of Commerce will collide with the Uganda Chamber of Commerce, explaining that the move will instead increase Uganda’s investment potential.

The Minister of State for Planning, Prof. Ephraim Kamuntu said the Chinese government has set aside $5billion to take care of the risks of the Chinese businessmen willing to invest in African countries like Uganda.

He said investing in value addition products will bolster Uganda’s economic potential and expose the business community here to the world market.
“We want to transform our economy like yours. What we want is to add value not to export raw materials,” Prof. Kamuntu said.