Uganda Investment Authority
Tel: +256-414-301 000 | Fax: +256-414-342 903
E-mail: info@ugandainvest.go.ug | Web: www.ugandainvest.go.ug
 Frank Sebbowa Executive Director | Location: Plot 22B Lumumba Avenue, TWED Plaza, Address: P O Box 7418 Kampala, Uganda  UIA: Ireland to Hhelp Uganda create 1million Jobs by 2020 The Republic of Ireland has committed to support Uganda’s strategic plan that upon full implementation will provide up to 1million jobs to Ugandans.The commitment was made before the press by the country’s minister for Diaspora and International Development; Mr. Joe McHugh at the Uganda Investment Authority (UIA) in Kampala.He was flanked by a delegation of businessmen from Ireland and as well as the Irish ambassador to Uganda Donal Cranin.The Minister revealed that he is in the country to discuss this ambitious plan by the UIA, create jobs for 1million Ugandans by 2020.During earlier meetings with UIA Managing Director Frank Sebowa and Ugandan officials, Minister McHugh revealed that they discussed at length especially Ireland’s priorities in Uganda in the area of trade and investments. Read more ▪ UIA: Coffee, Broadcasting Equipment, Cars Top Uganda's Exports Cars and broadcasting equipment constitute part of Uganda's top five imports as well as exports, according to information obtained from Uganda Investments Authority (UIA).Hope Waira, UIA's senior investment executive says while coffee is the leading export commodity at 27 percent, broadcasting equipment follows in second position at 5.4 percent, refined petroleum at 5.1 percent, and cement at 4.1 percent and cars at 3.5 percent.Of the top five exports, three of them - broadcasting equipment, refined petroleum and cars are not manufactured in Uganda. They are imported into the country before they are re-exported to countries in the region. Waira says the major destinations for Uganda's exports are South Sudan, the Democratic Republic of Congo, Burundi and Tanzania. Statistics on how much revenue is generated from the imports and exports of broadcasting equipment and cars is not readily available.On the import side, the top five are refined petroleum at 21 percent, medicines at 3.8 percent, palm oil at 3.5 percent, cars at 3.5 percent and broadcasting equipment at 3.1 percent. John Onen, a Car dealer in eastern Democratic Republic of Congo says although he has no figures, it is likely that cars could be one of the top exports. Read more ▪ UIA: 70 private equity firms seek local partnerships Small and medium-sized enterprises have another chance to link up with well-capitalised private equity firms to take their businesses to a higher level.The Uganda Investment Authority (UIA) will 200 micro, small, medium enterprises together with 70 private equity and venture capital firms at the Sheraton Kampala Hotel.Dr. Frank Ssebowa, the UIA chief, noted that many high potential companies lack capital.“Between microfinance and mega deals in Uganda lies the “missing middle” — a lack of SME business finance that is holding back a swathe of high potential enterprises. This is where private equity and venture capital comes in handy,” Ssebowa noted.Private equity firms provide medium to long-term equity capital to companies with growth potential. Many of them want a high return on their capital and seek out firms with growth potential in which they invest and exit after achieving their required returns.The SMEs will be selected with the help of business groups like the Uganda Manufacturers Association, Private Sector Foundation Uganda, Uganda Small Scale Industries Association and the Kampala City Traders Association. Read more ▪   UIA Boss blames govt for poor investment ranking The executive director of the Uganda Investment Authority (UIA), Dr Frank Ssebowa, has blamed inefficiencies within government agencies for the poor World Bank rankings. Dr Ssebowa's remarks come after the recently-released Doing Business report ranked Uganda at 150th, 18 places below. Describing the ranking as 'a pity,' Ssebowa said government agencies needed to get their act together and adopt more efficient ways of facilitating people and organisations to do business."Until we amend laws and ensure that government bodies recognise the one-stop centre, we shall continue to rank poorly," he told journalists at the Uganda Media Centre. "It is only in Uganda where an investor is required to pay for a transformer when they try to connect power to their factories. Government should be doing that." Read more ▪  Museveni Vows Massive Shakeup at UIA President Museveni has said that there will be a shake-up in the Uganda Investment Authority (UIA) to make it more effective as a one stop centre and to be more responsive to investors’ needs as far as investment information is concerned.The President acknowledged that while there is corruption in the Police Force, the fight against the vice has been continuous struggle that needs a collective effort.The President was addressing over 600 Ugandans living in the Diaspora in Texas at his residency at the Lone Star Ranch in Texas where he has spent the last two days meeting various investors and the Ugandan Community here.“Previously, we had a total breakdown of law and order, murders, extra-judicial killings and corruption of the worst type. Most of these have been defeated. Fighting corruption is a continuous struggle, I urge you to bring this information to the attention of government if we are to win the fight,” the President said while reacting to reports of inadequate information about investment opportunities in Uganda and the high level of corruption in the Ugandan Police.Read more ▪ UIA: Govt to secure Shs390b for industrial park development Government is set to secure $150 million (about Shs389 billion) from the Government of India for long overdue development of the Kampala Industrial and Business Park, the State minister for Investment, Mr Gabriel Ajedra, has said.According to Mr Ajedra, if the deal with the Export-Import Bank of India goes through within the next four weeks, by close of the year, the park will be installed with power, water and roads. Talking to Daily Monitor in Kampala, Mr AJedra said: “I was in India recently and I can confirm to you that, we will be getting $150 million from the Government of India to develop the Namanve infrastructure—fix power, water and roads.”He continued: “At the moment, we are engaging a consultant who will give us an update on the revise costs of what is needed to be fixed. And when this is done, then we can sign an agreement.” Read more ▪ UIA: Actual investments grow by sh9 trillion Continued improvement in the macroeconomic environment enabled a 15% improvement in growth of actual capital investments during the fourth quarter. The growth, which was mostly driven by a boom in finance, insurance and real estate, accounted for 44% of actual investments, the Uganda Investment Authority (UIA) has said. Addressing journalists in Kampala, the executive director of UIA, Dr. Frank Ssebowa, said the authority registered an 8% growth in actual investments to $46.8m, compared to $43m recorded in the previous quarter. He added that the business service sector recorded the highest investment to the tune of $17m, while agriculture recorded $10m and the manufacturing sector followed with $9.1m.“Investment performance continues to do considerably well in spite of an 11% decline in the number of licensed projects,” he said. The authority also said the value of investments licensed during the fourth quarter led to a reduction in planned investments by 69% to $310m, compared to the planned $1b.India remained the largest source of foreign direct investment projects, accounting for 20% of projects, with planned value of investment amounting to $12.5m in the fourth quarter. Read more ▪ Despite increased growth in actual investment experienced in the last quarter of the previous financial— 2013/14, there was decline in both employment levels and number of planned investments, Uganda Investment authority data has shown.The 4th quarter also witnessed 38 percent decline in planned jobs, which translate to 8,650 jobs from 13,850 anticipated jobs in the 3rd quarter. “During the quarter under review, actual investment grew by 8 percent translating to $46.8 million (about Shs117billion) compared to $43 million (about Shs108billion) recorded in the 3rd quarter,” Mr Frank Sebbowa, the Uganda Investment Authority (UIA) executive director, said in a midweek news conference in Kampala. Read more ▪  UIA partners with UNRA to develop roads in industrial parks Since opting for the private sector-led growth strategy to spearhead the attainment of Uganda’s growth and development aspirations, the government has, beyond its traditional policy and regulatory role, invested sufficient resources in creating a conducive environment that attracts investments, both local and foreign. Privatisation and liberalisation are some of the policies Uganda adopted through the World Bank and International Monetary Fund (IMF) led Structural Adjustment Programs (SAPs) in the early 1980s but whose real implementation kicked-off in the mid1980s early 1990s.With a fair share of criticism and successes, these policies have been central to the realisation of a 6.5% average real economic growth Uganda has enjoyed over the past decade or so, and will be further critical to transforming Uganda from a peasantry to a modern and prosperous country as enshrined in the Uganda Vision 2040, the country’s strong growth and development blue –print, but requiring raising annual economic growth rate to 8.2%. Read more ▪ UIA: Envoy pleased with increase of SA investments in Uganda The volume of South African Investments in Uganda has more than tripled in the last four years, outgoing South African Ambassador to Uganda Jon Qwelane has said. Seven years ago, South African firms had invested more than $500m (Shs860b) in Uganda. They included telecommunication (MTN Uganda), breweries (SAB Millers), finance (Stanbic Bank), wholesale and retail (Shoprite, Metro Cash and Carry, Woolworths, Game), poultry (Bokomo), Sanlam Insurance, energy (Eskom) and many others. Asked about the magnitude of investment, Uganda Investment Authority executive director Frank Ssebowa acknowledged that the trade had grown. “I know that MTN doubled its investment while upgrading their network. Stanbic Bank also did a network upgrade and one of the Supermarkets also increased its network but I do not have the statistics,” he said. Read more. ▪ “HOMELESS” after selling their property in Kampala City, Members of Parliament are now telling Uganda Investment Authority (UIA) to relocate to Namanve along Jinja road, instead of renting.In a meeting with UIA officials at Parliament Buildings on Wednesday the MPs questioned why the authority sold their building along Kampala Road and then decided to rent in another part of the city.“You should account for the money you got from the sale of that building,” Nandala Mafabi told the UIA officials. Present was state minister for investment, Gabriel Ajedra. “Why don’t you shift staff to Namanve other than continuing to rent?” Nandala asked.Currently UIA is renting on Twed Plaza, Lumumba Avenue, Kampala.The UIA team had appeared to defend their budget for the coming financial year. The MPs also demanded to know what happened to the US$72m that was given to UIA to develop Namanve as an industrial park.Without a board in place to superintend the organisation, the MPs wondered how they were going to appropriate money for it.They were equally concerned by the delay to put in place a one stop centre to ease processes for investors. Read more ▪ A section of investors have challenged Uganda Investment Authority’s (UIA) condition that they establish themselves at the Kampala Industrial Park before utilities such as water, power and roads are fixed by the government. UIA executive director Frank Sebbowa, said the government is willing to provide services to companies that are already operating at the Industrial park rather than those that are watching from the sidelines. “Start operations there (at the Industrial Park) and we will reciprocate,” Mr Sebbowa said.Mr Varun Sood, the Works Manager Uganda Baati, who was earlier told by Mr Sebbowa to either establish his business at the park or face eviction, said in a separate interview with the Daily Monitor that it would be good if the park is developed before investors establish themselves there.“We are going to have a meeting with Mr Sebbowa, but our concern is like for all other investors—let them develop the place—install power, fix roads and connect water,” Mr Varun said.Read more ▪ UIA: Slow infrastructure development frustrates Namanve investors Investors are agitated by the lack of coordination between government agencies and the slow progress of fixing the wanting infrastructure in gazetted industrial parks.During a breakfast session at the Kampala Serena on Wednesday, investors including those that have been awarded prime land at Namanve Industrial park demanded to know whether there is a timeline to when the park will have water, electricity and tarmac road.Dino Bianchi, Toyota Uganda managing director echoed what he considers a very slow process at road, water and power works that would make it attractive for investors with land to start developing their sites. Uganda Investment Authority (UIA) chief, Dr Frank Ssebowa said he had on many occasions met the Uganda National Roads Authority (UNRA) team but no one gives a concrete answer based on timelines on when they would work on the infrastructure projects. Read more ▪ The number of licensed local investors with new projects in Uganda has dropped, according to the 2013 Uganda Investment abstract.The abstract shows that the investments have gone down because local companies/investors are not obliged to obtain an investment license before starting their business or project."The domestic owned projects accounted for only 17.8% a drastic decline compared to the 39.4% registered in 2011/12. The decline in the number of licensed domestic projects calls for more promotional efforts to urge domestic investors to acquire licenses since the value of domestic investment has since 2011/12 outstripped that of foreign investments," Dr. Frank Ssebowa, the Uganda Investment Authority Executive Director, said last week.However the abstract that was released recently, shows an increase in the number of foreign owned and jointly owned companies."Foreign owned enterprises continue to dominate in numbers accounting for 74.5% of the total projects licensed in 2012/2013 up from 40% in 2011/2012," he said. Read more ▪ What is the country’s major investment agenda? There are about four of them. Agro-processing ranks up there. We are putting a lot of emphasis here because we know that is where our comparative advantage is.Minerals are the other area we are prioritising. We are looking at refining them before exporting to other markets. Tourism is the other sector that we are developing and we believe we could easily be the leading tourism destination in this region. We have not yet managed to exploit the tourism benefits fully but this is something we are working on because of its potential.ICT is another sector because the educated young population can benefit immensely from investment in this sector. Read more ▪ Uganda Investment Authority (UIA) will lobby government to increase funding for marketing tourism in North America and other selected satellite cities around the world from the current expected $9,000 (Shs221 million) to $5 million (Shs12 billion).“Lobbying is part of our mandate,” UIA executive director Frank Sebbowa said last week in a meeting aimed at building competitiveness in tourism with a view to attract investment and employment in the sector. He continued: “We will lobby for $5 million to be put in marketing the country’s tourism industry every year. This is something we shall start doing immediately.” This was after tourism industry players argued that lack of marketing explains why tourists prefer going to neighbouring countries like Kenya, Rwanda and Tanzania rather than here—in Uganda. Read more ▪ The Government has been urged to nurture local companies to create a competitive and vibrant private sector.The chairman, Uganda Investment Authority (UIA), Patrick Bitature, noted that the desire for foreign manufactured goods under the guise that they are of better quality is a myth.In a move geared at building the capacity of local suppliers and manufacturers, the Private Sector Foundation Uganda (PSFU) and the Uganda Manufacturers Association have urged the Government to enact a law granting 15% preference exclusivity for any public procurement to indigenous manufacturers.PSFU has also asked the Government to implement the trade and industrial policies enacted in 2008 following the launch of the ‘Buy Ugandan, Build Uganda’ campaign launched in 2007 to promote locally produced commodities. Read more ▪ THE Uganda Investment Authority (UIA) will not increase the threshold required for foreign investors despite outcries from local business entities, UIA boss disclosed recently.Currently foreign investors are required to invest in the country if they have a capital worth $100,000 (sh250m).The Kampala City Traders Association (KACITA) have expressed concerns that the threshold is way below that required by other East African partner states which stands at $500,000.While responding to the demands, Frank Sebowa, the UIA executive director, noted that increasing the threshold would scare away investors.“Increasing to $500,000 is not viable because it will increase the cost of doing business,” said Sebowa in a speech read for him by Samali Mukyala, the senior legal investment officer.Mukyala noted that increasing the threshold would be prohibitive yet the mandate of the authority is to promote investment. Read more ▪ UIA: Ugandan SMEs To Gain From Nairobi Jua Kali Expo 120 Small and Medium Enterprises [SMEs] have been flagged off to join 1,070 others for the ongoing Jua Kali Trade Exibtion in Nairobi Kenya.The Ugandan team was seen off by officials from the Uganda Investment Authority and ministry of Trade, Industry and Cooperatives at the UMA show grounds Lugogo.This expo is geared towards among others; increasing cross border trade, encouraging Ugandan enterprises to seek for business opportunities that exist across the borders, value addition and product quality improvement. Read more ▪ The Uganda Investment Authority (UIA) has called for amendments to the local content clauses within the oil sector, which it says do not guarantee local participation. Mr Albert Ouma, the UIA director of small and medium enterprise division, disclosed that foreign companies will continue dominating service provision because local players are not empowered enough, even by the laws in place.Read more ▪  Investors to get licences in 24 hours, says UIA boss Cases of investors spending weeks if not months, chasing for operation licences, could be minimised if the one-stop centre set up at the Uganda investment Authority (UIA) operates efficiently. UIA executive director Frank Sebbowa said that the investment body hopes to clear all licences within 24 hours. However, when major information is lacking, clearance will be extended but shall not exceed three days. Read more ▪ The Interview by Milly Kalyabe - Editor, Uganda Economy In the past few years Uganda’s economy has improved and is continuously improving. Experts believe that the country’s economy has great potential as it has several major advantages and virgin opportunities. Coupled with natural endowments such as fertile land, regular rainfall and rich mineral deposits, the economy is one of the fastest growing in the East African region.  Ahead of the 3rd Uganda-UK Trade & Invest Forum on the 14 September in London, our local Editor Milly Kalyabe interviewed the Executive Director of Uganda Investment Authority, Eng. Dr. Frank Sebbowa who explained extensively as to why Uganda is the top most investment destination. Below are the excerpts Q: Why would anyone invest in Uganda? A: It’s the best investment destination. Basically investors look for stable environment within which to do business and Uganda has been stable for more than twenty something years. Also they look for stable economy with good economic policies as well as stable society. They need reasonable infrastructure and we are lucky that government is has worked and is continuing to work on roads and railway lines like you know we have concessioned it out with Egyptians. Plus, investors look for markets and Uganda is land linked on all its boarders we have consumers. Although we are only 35 million as Uganda, we are 149 million consumers as East Africa, plus the 340 million COMESA members where we have all these trade arrangements in that if you manufacturer here you could have access to all these markets. Additionally we have an educated population which is fairly young, most of them almost already to be employed. With just minimal skills training you can definitely get a good and cheaper workforce. Uganda is also committed to exports with in the country and outside. Q: Which opportunities are available for investments? A: Nearly all areas are available for investment but currently we would strongly encourage four strategic sectors because of their importance in the economy and these include: 1. Agriculture and Agro based including processing agricultural products to add value as well inputs such as fertilizers, tractors, irrigation systems and commercial farming. 2. ICT would attract and benefit the young workforce I mentioned earlier who are well educated and we would strongly encourage that. We also recognize the fact that no country can move forward without the ICT base in its economy. 3. Tourism, especially Eco-Tourism which is based on culture or environment should be highly focused on. 4. Minerals. We have a lot of minerals which need to be explored and mined and mineral beneficiations, a term they use when minerals get polished and made marketable. We have close to 50 different minerals and I can’t emphasize enough. But of course we have the traditional areas like in the oil and gas industry where we have quite enough spin offs like plastics and also from the residues you can get fertilizers among things. Q: Are you able to give us some statics on the inflow investments in the recent years A: We carried out joint survey with Bank of Uganda and Uganda National Bureau of Statistics of which investments have come in for the period between 1991-2012. FDI has grown tremendously to about $ 2 billion by 2008, with over 3500 projects licensed. Power stations have been developed with some support from government and other donors but mainly by FDI; we are doing quite a number of roads etc. In The Agriculture sector we have made a lot of difference. You are aware of the Kaweri Coffee, Mukwano Sunflower and huge ranches among others. Q: Any government guarantees? A: Uganda is the only country I know in the world where you can come in with your money and go away with your money without anybody asking you, as long as it’s legal money. Between you and your bank, subject to legal taxation, you take away all your money without any restrictions. Q: Is it a good thing to the economy? A: I think so because anyone who thinks it’s a bad thing, they need to try other countries where to change even $100 you fill two pages of form and even to take it back is also another hassle. If you have a solid sound investment environment, there will be more money flowing in than flowing out. Like I said earlier our survey report shows that more has come in over the years. FDI has been growing steadily not reducing. So if that is coming in what is it coming in to do? To create jobs for us, to bring in new technology because they buy new equipment which we didn’t have before, bring in new skills, they also pay taxes that government can use to do other things. Q: There has been a lot of concern over the quality of investments UIA approves and yet many of these so called investors get tax holiday. What is your comment? A: I don’t think it’s correct to say they get tax holiday because tax holiday has been tightened in only specific sectors and they are being closely monitored by Uganda Revenue Authority (URA). And because their job is to collect taxes, by the time they give you a waiver you have really qualified for it. And there are provisions under which they are guided to give waivers. Now this takes me to my job. My business is to license investors. These investors come with sort of money and technology we don’t have and they usually come with skilled manpower we don’t have. But they are compelled on the personnel side to train our locals and after five years or so they must demonstrate to the immigration department why they would still need expatriates and what they have done about training local people. Q: What are some of requirements for investing here? A: The people we license must bring in $100,000 for foreigners and for locals it’s a half of that amount. Q: Downtown in the central business district, you find Chinese operating businesses with far less capital than the stipulated minimum amount of $100,000. Who is responsible for this? A: Many people think these people are bad. I don’t think so. I would like to say they get an annual trading license from your local town council, from Kampala Capital City Authority (KCCA) or from somebody. So if these people were bad they wouldn’t get these licenses. Additionally those Chinese or Indians or whoever, have saved some money from abroad, may be they didn’t come with a lot of money but their money is here. And even if they employ one or two drivers, those are jobs created which were not there before them. The truth of the matter is, the people you are referring too, in a way they are not really the way we describe our investors because those are traders and UIA does not license traders. The people we license are genuine investors who bring in money, equipment and invest in manufacturing systems. So there is as a lot of difference but am emphasizing the fact that whether they are traders as we are referring to them or investors, to the economy they are all good - we need them. The people who are complaining are inefficient traders, they don’t want the competition. I think that there should be open competition so that somebody whether Chinese or anyone with a good genuine business, they are helping the consumers to lower costs. People think we should create a ring fence around them so that they continue working inefficiently and charge our population highly. I don’t agree. I think that people should compete openly, transparently and fairly so that the real consumers get value for their money. You could say that that these people have cheap money, not it’s true. Even where they come from, they work for this money to come and invest here. Q: How would advise anyone intending to invest here? A: They need to know their target market and we advise anyone to project that environmentally friendly. They should know how many people they are planning to employ because it’s key to us. Q: What are the requirements for investing here? A: These are really simple requirements: 1) We need to know that you are a genuine entity, meaning you are recognized by the law. 2) We need to know that you have the money 3) We need to know that you have a project 4) We need to know whether you need land from government or you have your own. Q: Is land available from government? A: Yes land is available from government if you have a good project. Q: Is this a good time to invest here? A: I think it’s a good time because of several reasons. We are now close to our oil boom which I see in 2-3 years from now. You need to get in the market now rather later so that by the time the benefits of oil start flowing in you are already there. You can’t wait for the oil to take off; you need be on ground in good time. The economy is ready to set off in many ways. It has been growing and our population is expanding. People are going to need food, so you have passion for agriculture I would encourage anyone to get in and start investing now rather than later. The traditional food we used to enjoy is now hard to find, why? Because the market, the consumers have increased. Before we could not take goods to Southern Sudan, now things like eggs, chicken, cabbages etc are going every day. Fish used to be plenty, now with new markets in Europe, we may need to grow fish, and we can no longer rely on the lake, the natural fishing. The needs of the oil industry is incredible, it’s a lot. They will need people to give them cabbages, Irish potatoes, eggs etc, cleaning services, simple mechanics and so on. So I will advise anyone to go into training people with hands on experience so that by time the oil market demands many of these people, they are already there and still many young people will come to you for training. Uganda for long time was not connected on the Marine Cable for ICT. Now we are connected to the three rights from the East African coast. So why not start businesses in say, the call centers? In fact, some people might want to process routine accounts. So almost in all fields I see opportunities and just make your package now. This is the time to do so. Q: What is UIA doing to attract new investments? A: Well, we have our road shows. We have developed a catalogue of projects that people can invest in and we are sending these to all our 30 embassies. We are launching these catalogues ourselves. Last week we were in Nairobi after we launched it here. Soon we will go to USA, UK, Denmark, Middle East so that people get to know the projects are available. We are also using foreigners who have invested here as our goodwill ambassadors. When they hear it from their colleagues, we think it’s more believable. We have TV talk shows here and even when we go abroad, we do whenever we get chance to give as many interviews as we can. Even government is taking the right steps to ensure that our macro and economic policies are correct and ensuring peace and stability in the country. Q: How about the local investors, how are you attracting them? A: We have developed a small to medium enterprise division within UIA which looks after those numerous investments. We started training them since last year into business and entrepreneur skills, improving productivity in their businesses, improving quality and standards. For the larger ones, we are trying to cut down bottlenecks so we work for the whole spectrum.  Q: One of the contentions is the elaborate procedures for licensing an investment. Anything being done about it? A: We have restructured our front office into a physical one stop centre. May be this week we will be launching it. We will house all offices we think are key to an investor, for example, UIA, Registrar of Companies, Immigration, NEMA. So all these desk officers will be here and they will be connected by computers to their parent organizations. This, we think will quicken the processes. And as I speak now, if you come with the requirements, you will walk away with your license in two days. Q: Anything specific to UK Forum of investors that is coming up next month? A: Yes. The compendium that we are taking to them of 230 investments is a good chance for them to send money here. Currently money comes from UK to pay for fees, to buy food and plots of land. We are saying help those same relatives to run a business so that not all the money you send goes directly to consumption. This will improve our economy. We think they are a major contributor to this economy and they should continue to remain engaging with us. The informal remittances are good but we have good tips to give them on investment and also work with them on the local scene. Instead of giving fish let them also give the fishing net. Those who have acquired skills let them come back and use them here. We can make arrangements where they can support local industries. Q: What is your target for this forum? What do you want to achieve at the end of the day? A: We want to link up with those Ugandan living in the UK but also to link up with their associates of whatever nationality who could invest here. If we can get 20-30 medium enterprises arising out of this forum, we will be very happy. If we can get joint ventures, we will appreciate. |
