Uganda Holds Mining And Oil Investment Promotion Conference To Attract Chinese Investors.

Uganda recently hosted the first Uganda-China (Liaoning) Mining and Oil Investment Promotion Conference in Shenyang, Liaoning Province, China, aiming to attract Chinese investors and boost the development of the country's mining and oil industries, Nile Post reported. The conference, jointly organized by the Embassy of Uganda in China, the Consulate General of Uganda in Guangzhou and the Department of Commerce of Liaoning Province, showcased Uganda's rich natural resources and investment-friendly policies. Irene Batibe, Permanent Secretary of Uganda's Ministry of Energy and Mineral Development, stressed at the meeting that Uganda is ready to work with Chinese investors. "Uganda is rich in mineral and oil resources and we are putting in place the right legal framework, infrastructure and incentives to ensure added value, sustainability and return on investment," she said. The meeting was held following the elevation of Uganda-China relations to a comprehensive strategic partnership in 2024, further deepening economic cooperation between the two countries. In a video message, Ugandan President Yoweri Museveni assured Chinese investors of a stable business environment. "Uganda is stable, open and eager to work with long-term partners. We welcome you on our journey of transformation." Over the years, the Ugandan government has created a number of incentives to attract investors, including offering tax breaks, land and more. During the conference, Uganda also showcased its investment readiness projects, and major Chinese players such as China National Offshore Oil Corporation (CNOOC) also showcased their involvement in Uganda's oil and gas sector. In addition, the meeting also promoted cooperation at the sub-national level, especially the sister city agreement between Jinja City and Shenyang City, which is expected to boost trade and infrastructure development. The Ugandan Embassy in China has also invited a Chinese business delegation to visit Uganda to strengthen long-term investment partnerships. At present, many Chinese investors have set up business in Uganda and have found Uganda to be a good investment environment.