(Yicai Global) March 12 – Uganda's President Yoweri Museveni highly lauded Chinese investment at the ground-breaking ceremony of China-Uganda Mbale Industrial Park held March 9, China's state Xinhua News Agency reported.

Chinese companies invested substantial amounts to develop African countries and industrial parks will raise Uganda's industrialization, promote its economy and improve locals' living standards, Museveni said. He called on the country to support to Chinese investors to further the country's economic growth. 

Covering 2.5 square kilometers, the park lies in Uganda's third-largest city of Mbale, 220 kilometers east of the capital of Kampala and 65 kilometers from the country's border iwth Kenya. It has convenient transport extending in all directions. High-voltage power lines are in place and the area is rich in water and labor resources. Tian Tang Group Co. (Uganda), a local unit of a private Chinese-owned company, contracted to build it. A total of USD2 million investment has gone into the park and 10 companies have signed agreements to settle in it. Their activities encompass metallurgical building materials, fruit processing, furniture and glass manufacturing, automotive assembly, smartphones and new energy.

Tian Tang Group is a diversified and comprehensive large Chinese enterprise group operating in Uganda. Its business covers hotel catering and tourism, manufacturing, real estate and mineral development, machinery trading and security services. It operates 12 wholly-owned subsidiaries in the central African nation.