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Local businesses invited to invest in Uganda

ISLAMABAD: Uganda has stressed the need to explore the possibilities for promotion of bilateral trade and asked the Pakistan to set up a spinning mill in their country.

This was stated by Cecilia Atim Ogwal, leader of the visiting twelve-member cotton and textile trade delegation from Uganda, during a meeting with Liaquat Ali Jatoi, the federal minister for industries and production, here Friday.

Ms Ogwal said that Pakistan could also get benefit by growing cotton in their country, as there is vast potential for exports and Pakistan is rich in cotton production. She also offered Pakistan to invest in the manufacturing and garments sector, as their country is business friendly.

She said that Uganda is very attractive for investors and various countries are joining them in the industrial sector. She appreciated the policy framework for economic and industrial development and stated that Pakistan is moving on right direction.

She said during her visit she observed that everything is normal in Pakistan and also safe for investment. The misconception in her mind has been cleared by observing the people and business community and she will brief her Parliament about it, she said.

Mr Jatoi said that Pakistan is planning to organize single country exhibition in African countries and said that Uganda will also be included in it. He also assured that Pakistan will help Uganda to set up spinning mill there and the private sector will be encouraged in this regard.

He also asked them to invest in granite sector, which is exportable item and light engineering and auto sector. The minister also said that the country’s industrial growth has increased to 14.7 percent, and steel mills profit is expected to be Rs 3 billion this year.—APP

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