22 November 2012

Uganda: Museveni Invites Chinese to Invest in Uganda

President Yoweri Museveni has invited the Chinese people to invest in the different opportunities available in Uganda.

The president said this during an opening ceremony at the ground breaking of the new Entebbe highway which officially started at Kyengera - Kabojja yesterday.

"I would like to take this opportunity to invite you to invest in the different opportunities like energy and others in Uganda, the Chinese aid is not a poor man's aid. All the African counties which used to beg for aid now run to China, before they used to go to Europe" he said.

Museveni saluted the Chinese people for the development of their country and urged Ugandans to copy them.

Museveni intimated that the Chinese will take over from America in the next 6 years to become a first world country. They have already taken over the whole of Europe. They are focused and don't entertain thieves.

He thanked the China government and the Exim Bank for funding the Entebbe Highway project and asked Ugandans to emulate Chinese.

The Chinese ambassador Zhao Yali described the development as a historical event between Uganda and China and promised that the completion of the project will be of fine quality because China values infrastructure development as the basic for economic value.

The 51.4 Km dual carriageway road will be constructed by the China Communication Construction Company (CCCC) and is estimated to cost around $476 million (Sh1190bn) where $350 million (sh875bn) is from China's EXIM Bank while the estimated $126 million (315bn) counter funding will be met by the government of Uganda.

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