Ugandan Minister Asks Local Companies to Embrace Upcoming China-africa Trade Expo for Technology Transfer, Financial Strength

A Ugandan minister has advised local companies to take part in the upcoming Third China-Africa Economic and Trade Expo so as to gain from the rich Chinese technology and financial transfer.

The State Minister for Energy, Okaasai Sidronous Opolot, said Uganda and the People’s Republic of China have always had a “long-standing mutually beneficial relationship” which has supported and encouraged the business communities of the two countries to collaborate.

“This conference presents a great opportunity for business enterprises under the Changsha Municipal Bureau of Commerce to partner with Ugandan enterprises under the Private Sector Foundation Uganda,” the minister said.

Opolot was speaking on April 25, while hosting a delegation from Hunan Province of China led by the Mayor of Changsha City. The meeting was dubbed, China (Changsha) – Uganda Investment, Economic and Trade Promotion Conference.

“I encourage Ugandan companies to leverage this opportunity to partner with Chinese companies so as to benefit in terms of technology transfer and financial strength. Chinese companies also have a global reach from which Ugandans can benefit,” Opolot said.

The minister further said Uganda was lucky to have a number of investors from China in the energy, mining and petroleum sectors.

“A number of the country’s flagship projects like Karuma Hydropower dam, Isimba Hydropower dam, Kingfisher Development Project, Wagagai Gold Mining Project and Osukuru Phosphates and Steel Project are being developed by companies from the People’s Republic of China,”

“This is in addition to mega projects in construction of Transmission and distribution infrastructure and projects in other sectors of the economy like roads, air transport, where Chinese companies are playing a leading role. In developing these projects, Ugandan enterprises and employees have been able to participate alongside the Chinese,” he added.

Kang Zhenlin, the Deputy Mayor of Changsha and Chairman of Changsha Federation of Industry and Commerce, said the expo was a good opportunity for entrepreneurs to strengthen cooperation. 

“We sincerely hope that with this event as a new starting point, we can further deepen communication and friendship with the Ugandan government, entrepreneurs and investors, and strengthen cooperation for mutual benefit and win-win situation,” the Chinese official said.

The expo will be held in Changsha City, Hunan Province between June 29-July 2 and is the third such event. The first China-Africa Economic and Trade Expo was held in 2019 while the second one 2021.

According to Zhenlin, Uganda stands to win from the expo since it had “become an important channel to strengthen economic and trade cooperation between China and African countries, and an important platform for China and Africa to deepen cooperation in a comprehensive manner.”

“Hunan and Uganda have a good cooperation foundation and great potential for further cooperation. Hunan imports Ugandan products like leather and minerals,” the official said.

The expo will be held under the theme, “Common Development for a Shared Future” with several activities planned to take place. These include signature events, high-end forums, high-end seminars, matchmaking and negotiations, and other supporting activities, and release of the China-Africa Economic and Trade Relations Report again.

Related Posts