Investment and business opportunities in Uganda for Indians

Chennai (Tamil Nadu) [India], August 14 (ANI/NewsVoir): Uganda business meet to discuss the opportunities for Indian investors in key sectors of trade, tourism, culture, technology transfer and human development was recently held at Chennai in presence of Grace Akello High Commissioner of Uganda, New Delhi.
Uganda is the most sought after Business destination in east of Africa. Lake Victoria - the largest fresh water body in the World is in Uganda. Situated near the equator, it is most suitable for agriculture, with warm temperature, very fertile soil and abundance of water.
Uganda is politically very stable. Under the leadership of Yoweri Kaguta Museveri, Uganda has progressed multi-fold and has not seen any public unrest for the last 34 years.
* Uganda offers Red Carpet to Foreign Investment and has a highly liberalized economy
* Uganda offers free movement of capital to & from the Country for potential investor
* Uganda offers full repatriation of profits after the mandatory taxes have been paid
* Uganda allows 100 per cent foreign ownership of private investment
* All Government incentive and Tax holidays are available from time to time are also applicable for foreign investment.
* Incentives for Industrial Zone. There is 10 years Corporation Tax Holiday. Duty Exemption on raw materials, plant and machinery. No export tax on goods exported
Agricultural Opportunities
Uganda offers 19 million hectares of land suitable for agricultural and presently less than 1% of this land is utilized for fruits and vegetable cultivation, thereby huge scope for agriculture.
Major Products of Agriculture
Uganda has the unrivalled potential to be the food basket of the East African Community. The Soil is very fertile and there is abandon water available - rice and maize can be grown abundantly both for domestic consumption and exports. Soya Bean, Sun Flower, Cotton, Sugarcane are other products which can be abundantly grown.
Coffee and Tea are other major products produced Uganda is the major producer of fruits - all varieties of Banana are grown in Uganda, Mango cultivation is very big, Pineapple, Jackfruit, Oranges, Papaya, Guava are freely grown throughout Uganda. Avocado is also widely grown and has potential for exports. Agriculture 4 Crops is possible per Annam.
* Uganda is most suited for Floriculture and all varieties of flowers can be grown for exports to Europe and USA.
* Coffee and Tea have huge potential for processing, packaging and exports. For all above agriculture Products, we require agriculture machinery and proper packaging to preserve and export.
* Milk - Uganda is surplus in Milk, so Milk products and Milk powder can be produced for domestic consumption and export.
Madhusudan Agrawal, Co-founder, Ajanta Pharma Ltd., Vinod Saraogi, Chairman, Meridian Group of Companies & Go Colors, Paras Jain, Chief Coordinator was also present for the Press meet.
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