VP Alupo hails Chinese Social Responsibility enterprises revealed in the 2022 report for the impact of their partnership in Uganda
In abid to further strengthen the mutual understanding and friendship between the peoples of China and Uganda and to further enrich the contents of the Comprehensive Cooperative Partnership between China and Uganda, the Chinese Embassy together with the Chinese Chamber of Commerce has revealed over 300 enterprises and cooperation projects where Uganda citizens are benefiting in different sectors including education, communication, jo creatin, medical among others.
During the publishing Ceremony of Chinese Enterprises in Uganda Social Responsibility Report 2022, which was graced by HE Vice President Jesca Alupo over the issuing ceremony of the Chinese enterprises in Uganda social responsibility report said 2022 there are about 350 Chinese companies operating in various sectors of Uganda which have continued to strengthen bilateral ties the two countries.
She said that the trade relationships Uganda enjoys with China is appreciated which she said has favored Uganda’s exports of selected products. She called upon traders to advantage of the initiative.
“China offered 99% of Uganda goods to access the Chinese market at zero tariff aimed at promoting exports of agriculture, chemical products,” she said
The Chinese ambassador to Uganda H.E Zhang Lizhong pictured above said that as China celebrates 60 years of cooperation partnership with Uganda, there is evidence of a strong solid foundation with new momentum of practical cooperation coupled with mutual respect and joint efforts for development.
“In 2021 there were 9 programs for future China -Uganda with practical Cooperation projects of social responsibility. Projects benefiting Ugandans in job creation, environment, medical; CNNOC provides 20,000 jobs, satellite service, rural electrification, agriculture, health sector” he mentioned
He said that the expansion follows commitments made by China at the Eighth Ministerial Conference of the Forum on China-Africa Cooperation held in Senegal last year in a bid to reach 300 billion U.S. dollars in total imports from Africa in the next three years.
Picture above: Gen. Katumba Wamala being showed pictures of projects of Chinaese enterprises in Uganda.
The trade volume between the two countries in 2021 amounted to 1.07 billion U.S. dollars, registering a 28.5 percent increase, against the shock waves of the COVID-19 pandemic. By the end of 2020, China's direct investment in Uganda reached 710 million U.S. dollars and the investment is mainly focused on manufacturing, agriculture, mining, and logistics.
In the energy sector, China financed the construction of the Karuma Hydro Power Plant and Isimba Hydro Power Plant which helped address Uganda's energy deficit, a major bottleneck to the country's development.
According to Uganda Investment Authority (UIA), a state-run agency, showed that China ranks among the top five sources of Foreign Direct Investment. Several Chinese-owned industrial parks have opened in the country and created much-needed jobs.