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Burundi’s President , Evariste Ndayishimiye applauded Ugandan Investors for invited them to Invest and Trade in with Burundi
Posted On 15 May 2021
By Abdul Rahman Bangura–
Photo Credit: Research Gate
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- President Ndayishimiye brought in the statements after a tour at the new state-of-theart Picfare Industries plant in Kampala Industrial and Business Park, Namanve, where he was displayed products rove from scholastic materials to apparel.
President Ndayishimiye mumbled he has witnessed first-hand Uganda’s investment environment and seen how hard the investors are working and coaxed them to suppose Burundi as an objective for trade and investment. He told that Burundi has enormous investment opportunities in sectors like agriculture, industry, extractives, and tourism,
as well as trade.
He expanded that Burundi is now a peaceful country with the natives working hard to develop, adding that Ugandans should take advantage of trade and investment chances in the East African Community partner state.
The Minister of Trade, Industry and Cooperatives – Amelia Kyambadde told, there is a crucial desire to facilitate trade and investment between Uganda and Burundi. Kyambadde remarked that, Uganda is beginning a new period with Burundi as a strategic enterprise and trade partner.
Kyambadde heralded the position of the State Minister for Privatization and Investment, Evelyn Anite, and Uganda Investment Authority (UIA) in piloting the institution of 5,700 factories now operational in Uganda. Anite said there is a need to improve reciprocal trade and investment between Burundi and Uganda. She said there are many Ugandan products that need to access the Burundian market.
The Chairman of the Board of Uganda Investment Authority, Morrison Rwakakamba said the key principle for investors is peace and security, adding that both Uganda and Burundi are now peaceful and ready for investment. He divulged that, proposals are in progressive phases to build a tarmac road from Kitagati to Burundi in a way to enhance travel and trade between the two nations.
Rwakakamba let out, the Investment Code of 2019 categorizes East Africans who invest in Uganda as domestic investors and exhorted the Burundians to come and invest in Uganda.
The Chairman of Picfare Industries, Mitul Jobanputra said the company commenced as a small printing concern but has now thrived into a huge scale security printing, paper products, apparels, including military fatigues, and medical materials like uniforms and personal protective equipment (PPEs).
Jobanputra said their production is at a high scale and of high quality and that they are capable of supplying the Burundian market adequately. He said in the next 12 months, Picfare Industries will also pivot to the production of maize meal (posho), animal feeds and other grain products.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent
Email: Info@newafricabusinessnews.com
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