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Museveni Meets Prospective Automobile Investors

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President Yoweri Museveni has met and held a discussion with China based Automobile investors who have already established operations at the Namanve Industrial Park in Uganda.

UAG whose official name is Automobile Group (U) Co. Ltd and the authorised Manufacturer and dealer of FAW and JMC is interested in setting up a car assembling plant in Namanve.

During the meeting that took place yesterday at State House Entebbe, the group’s chairman Mr Liu Qingshan, appreciated the President for sparing time to meet them as well as the investment atmosphere that allows the company to thrive.

He said that they are ready to assemble cars in Uganda.

Double combine that Automobile Group (u) co. Limited will manufacture that was presented to President Yoweri Museveni after a meeting

Mr. Lui Qingshan  who is also one of the surviving founding members  of the Chinese Automobile Industry noted that with the company’s experience and availabille capital, the project will lead to the development of the Automobile industry in Uganda.

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“Our Ugandan youth took only 2 weeks to train and they’re already doing a good job. They are  going to make the cars affordable so that many people manage to buy them to replace used cars,” he said.

President Museveni  welcomed the investors  and assured them of the government’s support to see that the industry takes off.

Mr Qingshan presented two samples of what they have already assembled adding that with the total investment of 70 million US dollars, the company already spent 12 million US dollars in the first stage.

Auto Mobile Group (UMG) is an Auto research and development manufacturer with more than 20 years of experience of overseas marketing development and investment in China. Their products include saloon cars, Buses, Vans, pickups, Suvs, Truck series among others.

The meeting was attended by Uganda’s State Minister of Finance for Investment and Privatisation Hon. Evelyn Anite among others.

The post Museveni Meets Prospective Automobile Investors first appeared on ChimpReports.

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