On April 12, the Uganda Investment Authority held its 2024 Investors Baraza (town hall meeting) for Investors in its flagship Kampala Industrial and Business Park, Namanve.
The well-attended baraza was presided over by the State Minister of Finance (Privatisation and Investment), Evelyn Anite, the Head of State House Investor Protection Unit, Col. Edith Nakalema, and the Head of State House Anti-Corruption Unit, Brig. Henry Isoke.
The question-and-answer baraza explored several issues aimed at improving the environment and climate for investment and doing business in Uganda.
Key takeaways included the following:
* The Investment Code is being revised to streamline investment procedures, safeguard investor interests & implement stringent measures to deter and penalize intermediaries or middlemen engaging in illicit activities.
* Need to provide incentives for domestic investors in order to enable them to scale up and provide more products, jobs for young people, and revenues for the government.
* Need to encourage value addition to local raw materials to create products instead of mere packaging or repackaging of products.
* Investors are not to pay for land or services that are free of charge.
* Investors operating in the industrial park emphasize cooperation in order to create harmony in the industrial park.
* Infrastructure development in the industrial park to be prioritized and workflows and schedules well communicated to investors, especially those affected by works.
* As the industrial park grows, there is a need to review and upgrade its security needs and setup.
* Need to create recreation facilities in the industrial park.
* Need to deploy more traffic police to manage increasing vehicular traffic in the industrial park.
* UIA to constantly keep in touch with the Investors and address their needs.
* Investors to make use of the State House Investor Protection Unit and State House Anti-Corruption Unit, in case of any challenges.
* Each factory/industry is to plant at least 100 trees on its premises. UIA and infrastructure contractor, Lagan-Dott Namanve Ltd., to plant trees along all roads in the industrial park.
* Contrary to some perceptions, most investors in the industrial park are domestic (53 percent) compared to foreign investors (47 percent).
* Immediate formation of Park Investor Committee in Namanve Industrial Park that will coordinate all investor issues.
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(David Rupiny, Barbra Nambuya & Shamim Saad)
