On Friday, President Yoweri Museveni received an investor from the United Arab Emirates (UAE), Deepak Mehta, who called on him at State House, Nakasero.
Deepak, who is the Managing Director of Global Gases Group, met the President recently in Dubai during his visit to UAE.
Museveni was in the UAE on the invitation of President Sheikh Mohamed bin Zayed Al Nahyan, and ruler of Abu Dhabi to attend the Abu Dhabi Sustainability Week (ADSW).
Deepak was accompanied to State House by his Directors, Arnab Das and Swalnil Vichare.
He told the President of various projects he plans to open up in the country that include production of oxygen gas for hospitals as well as for export to countries in the region and the making of biogas and fertilizers from cow dung.
He told the President of his plan to use waste in cities and urban areas for making electricity.
President Museveni welcomed the Deepak to Uganda adding that the manufacture of oxygen gas would go a long way in promoting import substitution and would also be exported to neighbouring countries.
“It is an investment that will supply oxygen to hospitals. Some would be exported and will also help in import substitution,” he noted.
On waste management, the President observed that it would contribute in ensuring the cleanliness of the environment.
The meeting was attended by the Minister of Energy and Mineral Development, Hon. Ruth Nankabirwa, and the Minister of Trade Industry and Cooperatives, Hon. Francis Mwebesa. Others were the Minister of State for Investment, Hon. Evelyne Anite, and other senior Government officials.
This is one of the first fruits of Museveni’s visit to the UAE a fortnight ago. While there, he expressed happiness at the increasing number of United Arab Emirates business people who are coming to Uganda and reiterated that Uganda’s investment potential and conducive environment are excellent.
He, in a tweet, while in UAE, Museveni said he “held meetings with various investors and friends of Uganda upon my arrival in Abu Dhabi, UAE.”
“I discussed with them our needs for value addition, available incentives and pro-business conditions. I am happy that they see the potential of doing business with us,” Museveni added.
President Yoweri Kaguta Museveni has for years reiterated government’s commitment to promoting value addition on Ugandan products rather than exporting raw materials.
While commissioning a new coffee processing factory in Rwashamaire Town Council, Ntungamo district on Thursday, December 29, 2022, the President said there is no way Uganda and other African-producing countries can develop from their coffee when they are exporting it raw, adding that the only way for these countries is to develop a processing industry.
He linked the continued export of raw materials from Africa to the new slavery and said he cannot support it.