President Museveni says Prince Sultan is willing to invest in Uganda (PPU Photo)

President Museveni confirms 12th richest man in Middle East willing to invest in Uganda

Ayiswa Issa Thursday, 8 December 2016 - 10:22am Money

President Yoweri Museveni has met the 12th richest man in Middle East and asked him to set shop in Uganda.

Prince Sultan Bin Mohammed Bin Saud Al Kabeer is a member of the House of Saud, also Founder and Chairman of Almarai Company.

Prince Sultan is the 12th richest man in Middle East (PPU Photo)

President Museveni who met Prince Sultan at State House is optimistic about adding him to the number of those already investing in the country.

He said: "Prince Sultan expressed willingness to invest here, appreciating Uganda's good weather, immense natural resources and peace and stability."

President Museveni noted: "If we have more industries built here and more products manufactured here, we shall cut on imports, export more and improve our trade balance."

He tipped the Saudi Prince: "I indicated to him that Uganda has investment opportunities in the dairy sector, agro-processing, fruits processing, textiles, among others."

The President went on: "I met him as part of my push to woo investors to come to Uganda and set up shop here."

Almarai is the world's largest vertically integrated dairy products company. Prince Sultan is the 12th richest man in the Middle East.

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