David Muwanga
2 October 2008
Kampala — China will continue supporting Uganda's economic and social development, the Chinese ambassador, Sun Heping, has said.
"Since the forum on China-Africa cooperation in November 2006, eight policies announced by president Hu Jintao to support Africa's development have been implemented in Uganda," Heping said at a reception held at the Sheraton Kampala Hotel to mark the 59th anniversary of the Peoples Republic of China.
"Those that have been implemented include expansion of aid, debt relief, tariff exemption and increase of assistance and input to Uganda's social development," he said.
"The government of China is to build two schools, a hospital, a centre for malaria treatment and prevention, an agricultural technology demonstration centre and a government office block in the near future."
Heping said China's gross domestic product (GDP) share of the world economy and global trade rose to 5% and 8% respectively from 1% in 1978.
"China's development has opened a huge market for international capital, attracting over $780b of net foreign investment, while direct overseas investments by the Chinese are also growing."
According to the Uganda Investment Authority, over $35m has been invested in Uganda by the Chinese from June 30, 2007 to June 30, 2008. Also, the Chinese government has given over $85m in aid over the last four years.
Heping said China has become the world's third largest import market and the largest import market in Asia.
It contributes over 10% to global economic growth and over 12% to expansion of global trade.
"China's average annual import volume has reached close to $560b since 2001, generating 10 million jobs for the trade partners."
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