The 3rd annual Investors’ meeting in KIBP NamanveBy Uganda Investment Authority
As a way of getting feedback from investors, Uganda Investment Authority organizes annual investor meetings to create a platform where government directly dialogues with the investors to get possible ways of addressing the challenges that hinder development of their plots or factories.
Over 300 investors attended the meeting on 9th August 2017 from the 3 Kampala metropolitan area and these include: Kampala Industrial and Business Park, Luzira Industrial Park and Bweyogerere Industrial park. Government was represented by Hon. Eelyn Anite, State Minister for Investment and Privatisation, UIA Board Chairman Mr. Emely Kugonza, Mrs. Olive Kigongo, Chairperson Land Allocation Committee and Mrs. Jolly Kaguhangire, the UIA Executive Director.
Mrs. Jolly welcomed and appreciated the investors’ contribution to Uganda’s economy. She added that investors contribute over 5 trillion in taxes according to the Uganda Revenue Authority. Industrialization of Uganda is a very important aspect to quicken the process of growing into the middle income status by 2021. These industries will create jobs for our unemployed youth, contribute to the government revenue and also improve on technology and skills used by the Ugandan labour hence growth of the economy.
She said. Mr Emely Kugonza, the UIA Board Chairman said that the government is planning to borrow 150million dollars to transform and service the flagship park. (Kampala Industrial and Business Park Namanve).
“We want to see Kampala Industrial and Business Park fully serviced with all issues of infrastructure, sewerage, electricity distribution, drainage and access to water and waste management sorted.” He said Hon Anite, the State Minister for investment and Privatization said that investors had initially failed to develop their plots because they were charged over 80,000USD premium for an acre of land, when the president scrapped it off, investors have taken the initiative to start construction and created jobs for Ugandans and inject in money into our economy by paying tax. This was after she visited a number of ongoing works within the park e.g. Luuka Plastics, Kaazi group and Hima cement