Javid Merchant, the Indian investor, is all set to invest a lump sum amount of more than $10 million in textile and pharmaceutical industries in Uganda and other countries in East Africa. He paid a visit to the ambassador’s office. Joseph Ocwet, Director General, External Security Organization, met with Javid on 30th August 2018 and took the process a step ahead.
In the meeting, Javid expressed that he hopes to kick start the construction of the two main key elements in the textile and pharmaceutical industry. The construction of the premises will be initiated very soon. The meeting took place at the Office of the President, Kampala. Merchant is waiting for the allocation of land in the allotted industrial park in the eastern part of the continent.
He is currently in a second visit to Uganda to chalk out the visibility studies before starting the construction. He also met the President, Yoweri Museveni at the State House Entebbe so that the discussion can be taken a step forward. In this meeting, both the personnel discussed about the investment plans. The avid investor is looking for a quick setup in the industrial part. The development will start only after the legal documents are signed.
The investor is aiming to train the local people regarding new techniques to produce various things locally. This is also a part of the project that comes under the government program named ‘Buy Uganda, Build Uganda’. At the initial phase, the textile industry will employ more than 1000 Africans whereas the pharmaceutical will employ more than 100.