Uganda: Uganda, Malaysia in a joint oil venture

(SomaliNet) According to a statement from Uganda’s State House, Uganda and Malaysia have agreed to enter a joint venture in the production and refinery of oil.

The agreement was reached at a meeting yesterday afternoon between President Yoweri Museveni and the Prime Minister of Malaysia, Sein Abdullah Ahmad Badawi, in Malaysia.

Under the arrangement, the Malaysian Prime Minister is to send a team of oil exploration experts to Uganda soon to carry out a feasibility study on the project.

Accepting Museveni’s invitation to attend the Commonwealth Heads of Government meeting in Kampala in November, the Prime Minister of Malaysia pledged to travel to Uganda with a team of experts and potential investors to carry out a feasibility study in various areas of interest.

The two leaders agreed to co-operate on the development of the railway network in Uganda, agro-processing, value addition to Ugandan products as well as the promotion of trade, especially the importation of Uganda’s organic food products by Malaysia.

At the Langkawi dialogue forum, Museveni allayed fears that the African continent cannot develop without foreign intervention. He pointed out that it took Europe 300 years to develop and progress.

He, however, observed that most African countries had achieved the minimum development recovery, adding that Uganda was on the right track following successes in the human resource management and health. Emphasis was now on the improvement of household income, the President said.

Museveni called on African countries to focus on the remaining challenges, such as the creation of bigger markets, having an integrated and private-led growth economy, value addition to products, infrastructural development and research.

Commenting on the role of the media, the President asked them to broaden their research, and internalise ways of learning and understanding society if they were to fulfil their social responsibility to the public for positive change and development.

He also advised the media not to promote the negative side of issues that exist in society but also appreciate, recognise and promote the positive achievements.

The Langkawi International Dialogue was also attended by the Minister of Trade and Industry, Hajat Janat Mukwaya, the Minister of State for Investment, Professor Semakula Kiwanuka, and Minister of Regional Affairs, Isaac Musumba.-The New Vision