President Yoweri Museveni has said Uganda has great potential in mineral exploration and development and only needs investors they can partner with to refine and add value for export.
Museveni said the country is very interested in mineral development noting that on the gold, Uganda has its own and because of the security exports have gone up in the region.
He said the government has removed all taxes on refined minerals and if gold can be refined here, the citizens can benefit through making jewelry.
The president said other priority minerals include industrial steel, phosphates, copper, Tin, pharmaceuticals and agro-processing.
Museveni was yesterday meeting Turkish investors introduced by the Turkish Ambassador to Uganda Fikret Kerem Alp and included the Dog-Yap Insaat Tur.Energi Ur a subsidiary of the Doganlar Yatirim Holding company led by the Vice President and Chairman of the DEIL Business Council Dogan Ali Dogan.
The company deals in retail, energy, construction and furniture and is already involved in the construction of Uganda’s national industrial and business parks and agro-industrial business parks.
Turkish Ambassador to Uganda Fikret Kerem Alp said Turkish investors are interested in agro-industrial business including fruit and vegetable processing, cold stores, training centres and agro-industrial schools.
Meanwhile, President Yoweri Museveni has said he will engage the Speaker of Parliament to fast-track the amendment of the law to ensure that electricity goes directly from generation to the industrial consumer to spur economic growth through industrialization.
Museveni said on several occasions that Power should go directly from generation to the consumer, especially the industrial consumer.
The president was on Wednesday meeting Chinese investors from the Mbale Industrial Park who protested their omission from the direct power consumption despite having a bigger industrial park than MMP Industrial Park in Buikwe district.
MMP Industrial Park and Kapeeka Industrial Park are on a pilot trial for direct power consumption pending the amendment of the law to allow all industrial parks to access direct power affordably.
