The state minister for Investment in the Ugandan Ministry of Finance Planning and Economic Development, Aridru Ajadera has urged the 20 Turkish investors visiting Uganda to invest their resources in the cotton and coffee sectors.
"These two have potential because very few people have invested in them," he told the investors in Kampala on Jan. 18. "We need investors to add value in these sectors," he added.
He said that president Museveni has been complaining that Uganda exports raw coffee and cotton but exports large volumes of finished goods made from these raw materials.
"We exported row cotton to the tune of $75mn and imported textiles of sh180mn," he said, adding Uganda needed to manufacture textiles itself because it had the raw materials, cotton.
The 20 Turkish investors are in Uganda trying to find opportunities in different sectors where they can invest. The said sectors include health, oil and gas, general trading, agriculture among others.
The Turkish ambassador to Uganda Melih Vlverey said the two governments need to sign an investment protection agreement to protect foreign investors for the two countries to support their economic relations.
Ajadera said he would engage the government top officials to have this done.