Uganda targets $10 bln investment from India in next 5 years

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New Delhi, Apr 10 (UNI) Uganda today said it has set a target of 10 billion dollars in investment from India in infrastructure, manufacturing, tourism, mining and services sector among others in the next five years.

''We aim to attract overall investment of 20 billion dollars in the next five years. We target about 10 billion dollars investment from India in our various sectors,'' Uganda Investment Authority Executive Director Maggie Kigozi told UNI on the sidelines of an investor meet organised by Tilda Riceland here.

She said India is the second largest investor in Uganda after the UK and seeks partners for infrastructure, manufacturing, tourism, mining, services sector including health, education and finance.

Uganda has a huge opportunity in the agro-processing segment, she said, adding that there ara about 100 minerals in large quantities present in Uganda and seeks partners for exploring it.

The African country has large under-exploited mineral deposits of gold, oil, high grade tin, salt, beryllium, iron ore, glass sand and phosphate.

Ms Kigozi said there is a huge potential of setting hotels and lodges in the country, beside opening hospitals.

In education sector, the country urged India to set up schools, independent private universities, technical and vocational training schools and student financing.

Some of the Indian companies operating in Uganda include Tilda Uganda Ltd, Tata Group of Companies, APTECH Uganda, Roadmaster Cycles, Mahindra Tractors and Bank of Baroda.

Uganda's growth is expected to continue at a pace of atleast seven per cent per annum.

This growth will continue to be powered by expansion in the industrial sector that is expected to grow 10.1 and service sector which is poised to grow by 9.5 per cent in the fiscal 2008.


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