Uganda needs foreign investors to transform, says minister
Posted Friday, October 18 2013 at 01:00
Uganda needs both local and foreign investors if it is to attain the desired economic transformation, minister for Local Government has said.
Mr Adolf Mwesige, during a press conference in Kampala yesterday, said: “There is no country which has transformed without foreign investment. even the China we talk about. Much of the capital in China is from America.”
He, however, said it is important that once foreigners come to Uganda, they follow the country’s laws. “You can’t rape a woman and say you are an investor and we leave you, we will pursue you and punish you according to the law, ” he said.
The minister was addressing journalists about a dialogue for mayors and governors of China and the East African Community due next month in Kampala. The dialogue, expected to attract more than 400 delegates, is aimed at stimulating local economic development through increased business promotion, and cooperation.