Iran Considering Investment in Uganda

Ugandan Ambassador to Iran Mohammad Ahmad Kissule said on Tuesday that his country is ready to expand its economic ties with Islamic Republic of Iran, AVA Diplomatic reports.Speaking to Iran’s Deputy Economy Minister Mohammad Reza Farzin, he said: “Uganda and Iran have established positive and constructive relationships during the recent years. However, both countries can take current ties to next steps by expanding cultural, economic and politic relations. I am sure that both nations will take advantage of better ties.”

“Uganda is a country with salient resources in Africa. Iranian private-held petrochemical corporations can also invest in different fields in Uganda. The President of Uganda will be happy to discuss more details with his Iranian counterpart.” Mohammad Ahmad Kissule added.

“The current potential of Uganda is very important for Islamic Republic. By investing in Uganda, Iran will be able to take advantage of better ties with African countries. Access to other African markets will also be easier for Iran’s government and non-governmental companies.” Iran’s Deputy Economy Minister Mohammad Reza Farzin remarked during his meeting with Ugandan Ambassador.

Uganda established its embassy in Iran eight years ago. Iranian President Mahmoud Ahmadinejad has positive views on relationships with African countries. According to Ahmadinejad, Iran will be able to circumvent international embargoes only in partnership with African governments. Currently, Iran has been sectioned by world powers over its disputed nuclear program.

It is good to know that Uganda is one of the poorest nations in the world, with 37.7% of the population living on less than $1.25 a day.