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Uganda's success fueled by Sino excellence

China Daily | Updated: 2009-12-14 07:51

Uganda's success fueled by Sino excellence

With this year's discovery of the country's wealth of oil reserves, Uganda is now being widely tipped as Africa's next prime foreign direct investment (FDI) destination. The country is already one of the continent's leading producers of agricultural products - a testament to its rich terrain and diverse climate.

Fueled by healthy exports of a range of products, including tea, coffee, tobacco, sugar, maize, and flowers, Uganda's economy grew by 9 percent in 2008, and is expected to increase by 6 percent in 2009. The country's future seems bright as its political and social stability continues to attract a number of foreign investors all keen to tap into its huge potential. Part of Uganda's appeal lies in its strategic location at the heart of East Africa - this has seen the country provide lucrative opportunities across all sectors, including tourism, and, latterly, oil.

As one of Uganda's key trading partners, China has played a leading role in helping this ambitious 33 million people-strong country achieve its many socioeconomic goals. Links between the two countries stretch back decades. In recent years, construction contracts worth a staggering $500 million have been awarded to Chinese businesses. These have largely related to major new infrastructure projects, such as roads, government offices, sports facilities and housing.

Uganda's success fueled by Sino excellence

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