Uganda is doing well at the Expo- Minister Tumwebaze
The Dubai 2020 expo which started on 1st October will be running until 31st March next year.
The expo has brought together over 100 countries show casing their products, culture and heritage at different pavilions.
Yesterday Ugandans on social media brought their disappointment on hundreds of their posts about the pavilion and it’s poor set up preparation and organization.
Minister of Agriculture Hon Frank Tumwebaze has condemned the negative commentary by Ugandans on social media about their country’s performance at the just launched Expo in 2020.
“Many Ugandan business people are busy with Business to Business meetings and as government we have engaged prospective investors and exposed them to our enabling policy and regulatory framework,” Tumwebaze said.
“While we are busy winning for our country some pseudo social media intellectuals are busy mourning, sad!” He added.
According to him, the agro processing industry, tourism and many other sectors in Uganda are already benefiting greatly from the expo.
Uganda has negotiated a combined investment deal amounting to nearly $900m (about Shs3.2 trillion) in under one week, senior officials representing the country at the Dubai 2020 Expo have said.
Mr Elly Twineyo, the executive director of Uganda Export Promotion Board (UEPB), said the efforts will ultimately result in employment of more than 100,000 Ugandans.
Hardly 24 hours after Uganda celebrated its National Day at the six-month long Dubai 2020 Expo, it nailed down a $650m (about Shs2.3 trillion) combined deal before tying up other deals. These reportedly took it to the $900m by close of business Monday.
The Uganda Investment Authority (UIA) says the investment deals signed spawn various economic sectors, including healthcare, energy and transportation.
Money, money, money!
One of the deals — whose letters of intent were witnessed by Finance minister Matia Kasaija at the Uganda Pavilion on Monday — commits about $500m (about Shs1.8 trillion) for renewable energy and transportation projects. Another $50m (about Shs176b) has been ring-fenced for mineral processing, with a similar amount also channeled into a new pharmaceutical facility to “manufacture high quality diagnostics kits for HIV/Aids, Malaria, TB, and other POC diagnostic technology.”
A Letter of Intent is a document outlining the understanding between two or more parties, which they intend to formalise in a legally binding agreement.
The expo is being held under three sub-themes: opportunity, sustainability and mobility. Uganda is participating under the “opportunity” theme, with Uganda’s expo theme being ‘Right Place, Right Time.’ President Museveni described the theme as fitting, saying Uganda is well poised to seize economic opportunities.