By Barbra Nabunya & Shamim Saad
The Uganda Development Bank (UBD), in conjunction with Uganda Investment Authority (UIA) and Uganda Development Forum (UDF), on July 14, 2023, organized the second Wakiso Investment Summit in Entebbe City.
The conference, held under the theme “Harnessing Investment Opportunities in Wakiso” focused on various investment and business opportunities in the district that encircles Kampala, Uganda’s capital, and together contribute at least 70 percent of Uganda’s GDP.
Key investment opportunities in Wakiso are in hospitality, tourism, real estate, agro-processing, health, education, and infrastructure development, amongst others.
The Wakiso district leadership highlighted that since the first Wakiso Investment Conference in 2018, there has been a noticeable increase in the issuance of investment licenses to projects amounting to $1.35b with an estimated 26,303 jobs created.
According to the Chief Administrative Officer of Wakiso District, Alfred Malinga, they are continuously improving the investment and business environment in order to spur economic growth and development.
Malinga said: “The private sector still grapples with financial challenges that are important are enabling them to realize full potential, it is crucial that we join forces with partners like UDB and UIA so as to support the business community to participate in impactful investment projects”.
He said through investment conferences participants exchange ideas and knowledge that enable them to make the right business and investment decisions.
The Managing Director of UDB, Patricia Ojangole, said: “We are happy to partner with various stakeholders which perfectly aligns with our vision of driving socio-economic growth in Uganda through sustainable financial interventions in the country’s key priority sectors”.
The Chief Executive Officer of Psalms Food Industries, Dennis Ngabirano, said there is a need for an industrial park in each of the municipalities in the district in order to boost investment and industrialization.
UIA showcased its One-Stop Centre for Investors’ services like investment licensing, business registration, tax registration, land processing, utilities (water and power), product certification, immigration services, etc.
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