Officials from the Ministry of Foreign Affairs of Uganda and the Ugandan Consulate in Guangzhou spent Thursday convincing members of Guangzhou Liuhua Fashion Wholesale Market to look into investing in the East African nation’s textile sector.
This was during a one-day virtual investment conference aimed at providing a platform for exchange of information on the investment opportunities and incentives in the textile sector in Uganda. The textile industry is primarily concerned with the design, production and distribution of yarn and clothing.
Liuhua Fashion Wholesale Market, established 1996 -- is one of the most advanced clothing wholesale market in Guangzhou, China, supplying goods to over 60 countries annually. It brings together thousands of manufacturers from all around China with the latest style and the most competitive price.
At the virtual summit, Ambassador Solomon Rutega, Uganda’s consul general to Guangzhou, the discussions are aimed at enhancing the government’s plan to promote import substitution and to develop the textile sector in Uganda.
Jolly Sabune, the executive director of the Uganda Cotton Development Agency and Martin Muhangi, who represented the Uganda Investment Authority -- informed the conference that Uganda has completed the development of a strategy for its cotton, textiles and apparels sector that could generate more jobs and additional export revenues over the years.
The strategy, which is also supposed to feed into the third edition of the National Development Plan III -- is expected to eventually result in increased fiber cotton production, scale up domestic value addition and create employment.
The strategy proposes to revive the cotton production value chain and investment in export-oriented apparel as well as garment production factories that would initially rely on imported fabric.
Zeng Zhifeng, the general manager of the Chinese market – hailed the initiative and revealed that they are looking forward to further engagements.
The Conference was attended by members of Liuhua, a representative from the Guangzhou Municipal Commerce Bureau and from the Association of Guangzhou Belt and Road Investment Enterprises, representatives from the Ministry of Foreign Affairs, Uganda Investment Authority and Cotton Development Organisation, and members from the missions in China.