East African nations look for investment from Surat

The High Commissioners of East African countries, including Uganda, Tanzania and Kenya, met leading industrialists and businessmen of Surat in an effort to source investment from the region.

Addressing the gathering, at the Southern Gujarat Chamber of Commerce & Industry on Wednesday, Charles Walimbwa, the High Commissioner of Uganda, said, "We are very pleased and excited to be in Surat. Majority of the business in Uganda are controlled by people of Asian origin, 80 per cent of whom have roots in Gujarat. We have heard and read a lot about Surat. The people here are very hard working, which is the secret behind the prosperity of the region."

Walimbwa spoke about the various measures his government has taken to attract investments. "Uganda, Tanzania and Kenya, joined hands in 1996 and formed the East African Trade Council for promoting trade and industry. We have a common judicial system, common Parliament, common passport system, and shortly we will have a common currency. We are also on the path liberalisation so as to avoid roadblocks in the way of investments," Walimbwa said.

"There is vast potential for growth in the fields of education, hydro-power, agriculture, etc. in our countries. We are here to give an idea about the same to the local business fraternity. We invite the businessmen here to invest in our country," the High Commissioner added.

Eva Lilian Nzaro, the High Commissioner of Tanzania, said, "There is huge potential for developing mutual trade between India and our country. The diamond polishing and cutting industry of Surat is one of the biggest in the world, while Tanzania is a major producer of stones. Unfortunately, we do not have the technology to process the stones. The diamond industry of Surat, with its knowledge and expertise, could be of great help to us."

"I believe that the people of Gujarat do not know much about our countries, like our people know little about Gujarat. We will invite the trade and industry of this region to participate in the various trade fares organised in our countries, while our businessmen could come here for similar programmes," she said.

H Mutuma Kathurima, the High Commissioner of Kenya, said, "There are many sectors which have a huge scope for progress in our countries. The one field, which probably offers the largest potential, is housing. The type of housing in our countries is very costly and hence its not affordable to most people. People from this region could help us develop cheaper housing."