News
Lankan businesses invited to invest in Uganda
Trading between Sri Lanka and Uganda will be discussed when a business delegation from Uganda arrives, following Ugandan President Yoweri Kaguta Museveni’s three-day official visit to the country. However, the local business community wants “more information” before investing in Uganda.
President Museveni and President Mahinda Rajapaksa signed five memorandums of understanding (MOUs) between the governments of Sri Lanka and Uganda. This was the first time the Sri Lankan Government had signed any political agreements with an African government since the regime of Sirimavo Bandaranaike.
One of signed agreements was for setting up a Sri Lanka-Uganda Friendship Vocational and Technical Training Center in Uganda, under which Sri Lanka will help develop the education system in Uganda. Ten Ugandan teachers will be trained in Sri Lankan vocational and technical training centres, while experts from the local training centres will be sent to Uganda for two months to help set up new training programmes and upgrade existing programmes.
Under an MOU on economic, commercial and technical co-operation, the President of Uganda welcomed local entrepreneurs to invest in his country. He said the Ugandan market was four times the size of the local market and that businesses could tap into other markets in the East African community, Common Market for Eastern and Southern Africa, and the combined Africa Free Trade Zone (AFTZ).
Follow @timesonlinelk
Related Posts:
Uganda urges Sri Lankans to invest thereUganda is urging the Sri Lankan business community to invest in that country benefiting through duty free access to the ...
South Africa using Sri Lanka as a springboard for trade with IndiaA South African trade delegation visiting the country last week said that they are interested in using Sri Lanka as ...
Canadian NGO to provide skills training to improve businessesThe Canada Sri Lanka Business Council represents a significant group of businesses that link with Canada for business and investment ...
SL awaits top trade delegation from South AfricaThe Ministry of Industry and Commerce, which has taken up many roles including promoting exports and inviting high level business ...
SOUTH AFRICAN DELEGATION VISITS CINECThe South African Deputy Minister of Economic Development, Hon. Prof. (Ms) Hlengiwe Mkhize, accompanied by the South African High Commissioner ...