URA Collaborates with Weifang Bureau to Boost Chinese Investments in Uganda

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 recognising 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, emphasised 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 realising your business ideas," Okaka said.