Qatar Chamber stresses importance of investment in East Africa
Kampala, January 16 (QNA) – Qatar Chamber of Commerce highlighted the growing importance of investment in the East African region in general and the Republic of Uganda in particular, given the availability of opportunities in many key sectors such as tourism, agriculture, private sector, minerals, oil and gas, information and communications technology and infrastructure development.
This came in a speech by Mr. Mohammed bin Ahmed bin Towar Al Kuwari, First Vice Chairman of Qatar Chamber, during the “Investment and Trade in East Africa” Forum, which was launched today, Tuesday, on the sidelines of the 19th Summit of the East African States. The Movement of Non-European Countries and the G77 and China Summit, both of which were held in the Ugandan capital, Kampala.
The forum, held under the theme “Deepening Cooperation in Trade, Tourism and Investment for Shared Global Wealth,” aims to create opportunities in the fields of trade, tourism, investment and technology transfer.
The forum also aims to facilitate joint venture partnerships, facilitate affordable financing, technology transfer and business opportunities.
On this occasion, Mohammed bin Ahmed bin Towar Al Kuwari said: “The State of Qatar maintains close cooperative relations with the Republic of Uganda and the East African region in general, which is evident through the exchange of high-level visits and the existence and signing of many bilateral agreements to enhance this cooperation.
He pointed out that Qatar and Uganda share membership in many organizations such as the Organization of the Islamic Conference, the United Nations and the Arab-African Summit. Therefore, the State of Qatar is interested in investing in Uganda and exploring the opportunities that this country offers. He said that the Qatari private sector is very interested in investing in Uganda.
He pointed out that Qatar's GDP reached $190 billion in 2022, noting that these factors contribute to enhancing cooperation between Qatar and East African countries, especially Uganda, which provides investment opportunities and is a source of basic products, food and raw materials, in addition to being a first-class tourist destination.
“Qatar is a major global investor, with assets of the Qatar Investment Authority, the sovereign wealth fund, amounting to around $475 billion, and the Qatari private sector has diversified investments in many countries around the world, particularly in the European Union, the Gulf Cooperation Council and other Arab countries. It is time for Africa to be the next destination for Qatari foreign investment,” Al Kuwari added.
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