Summary:
- PACEID extends invitation to Chinese investors to explore Uganda’s cotton industry
During the PACEID trade and export delegation’s visit to China, they conducted an inspection of one of the country’s leading textile plants. They urged the plant’s owners to consider expanding their operations to Uganda, offering incentives to supply the African market.
The Kamhing textile company, owned by Mr. Tai Chin Wen, boasts annual revenues of USD 600 million and processes 100 million kilograms of cotton. They cater to Western retail giants like Macy’s, Target, and Walmart, as well as high-end sports brands like Nike and Adidas.
Mr. Tai Chin expressed interest in investing in Uganda but cited concerns about infrastructure, stability, and security. However, he indicated openness to exploring partnerships if certain guarantees were met.
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Odrek Rwabwogo, leading the delegation, highlighted Uganda’s potential, including a growing labor force, low electricity costs, and upcoming opportunities in the petrochemical industry.
Uganda aims to boost its textile sector to reduce reliance on imports, offering opportunities for large-scale investments. PACEID is actively seeking to attract investments across various value chains to achieve its ambitious earnings targets.
