UIA offers investment license to world leader in point of care diagnostic testing
UIA Director General Robert Mukiza (centre) hands over investment license to representatives of Guangzhou Wondfo Biotech Co. Ltd.
Kampala, August 16, 2021:- Uganda Investment Authority has today offered investment license, within 30 minutes, for Guangzhou Wondfo Biotech Co. Ltd., world leader in point of care diagnostic testing.
The company, one of the world’s biggest and fastest growing manufacturers of medical diagnostic products and reagents, plans to setup in Uganda to manufacture point of care products.
Speaking at the investment license handover ceremony, UIA Director General, Robert Mukiza, said the authority is keen on attracting more investments in the pathogenic economy and intends to develop an industrial park solely for pathogenic industry manufacturers.
Mukiza said UIA is laser-focused to expediting the process of acquiring investment licenses in order to speed up set up of critical investment projects.
Founded in 1992, the publicly listed company, since 2015, specializes in research and development, manufacture and sales of rapid diagnostic reagents and related equipment. It employs more than 1,100 employees in China.
In the fight against Covid-19, the company has successfully developed multiple diagnostic products to efficiently detect the virus.
The anti-Covid products are nucleic or PCR tests, which supports room temperature storage, and transportation, antigen tests, which contribute to the early clinical classification and efficient management of suspected patients, and antibody tests, which can be used as additional complements to antigen and PCR testing.
Guangzhou Wondfo Biotech Co. Ltd. becomes the second pathogenic industry investment project that UIA has licensed in one month, the other being Jena Herbals Uganda Ltd., the manufacturers of Covidex, a supportive drug in the treatment of Covid-19.