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The Uganda Revenue Authority recently met with the Weifang Bureau of Investment Cooperation and Promotion to discuss increasing Chinese investments in Uganda. Guo Xingping, Chairman of the Bureau, highlighted China’s significant foreign investments and noted Uganda’s potential in agriculture and industry.

The Uganda Revenue Authority (URA) recently engaged with members of the Weifang Bureau of Investment Cooperation and Promotion, an entity responsible for China’s investments both domestically and abroad.

The meeting focused on exploring ways to collaborate with the tax authority to enhance Chinese investments in Uganda and how the URA can support Chinese traders across the supply chain.

“Last year, our exports and imports reached USD50 billion and USD817 million, respectively, in foreign investments across 70 countries. We are currently recognizing Uganda’s potential, particularly in agriculture and industry. We aim to develop strategies to facilitate our operations in the supply chain, from warehousing to transportation,” said Guo Xingping, Chairman of the Weifang Bureau of Investment Cooperation and Promotion.

Godfrey Okaka, the Assistant Commissioner for Field Services, emphasized the availability of a ready market in Uganda, with a growing population of 45 million people and 250 million in the East African Community (EAC).

“Our President is a visionary for wealth creation, ensuring that everyone engages in production and the market economy. This partnership is welcomed, and we are optimistic about supporting you in realizing your business ideas,” Okaka said.