Oil: Ugandans advised on joint venture with Chinese

Chinese investors in a group photo at UNCC. PHOTO/ Noah Jagwe

newvision

By Noah Jagwe

Uganda National Chamber of Commerce and Industry (UNCC) has asked the local business community to consider  a joint venture with Chinese in the oil industry to enable them get the expertise and gain more from the oil sector.

The call was made during a courtesy call by a sixteen-man delegation of Mayors and Governors from China at the UNCCI premises at Kiira Road.

The meeting was aimed at strengthening trade ties between Uganda business community and Chinese investors.

Speaking on behalf of UNCCI president, Steven Kabagambe, the acting secretary general Uganda Chamber of Commerce said the local business community lack capacity to manage the industry.

Kabagambe noted that China has cost effective advanced technology that can help Uganda to grow other than depending on donations and hiring experts.

He said that the ventures will be a short cut to save the country from spending on foreign experts to carry out specific tasks.
Kagambe added that they are also looking forward for partnerships with the Chinese community for vocational and skills training.

Head of Mission of the Chinese delegation, Wang Guolong promised to make more investment in the Agro-business and construction industry among other fields.