NAKASONGOLA– The Uganda Investment Authority (UIA) has surrendered one square mile of land which is equavalent to 640 acres for the establishment of an Industrial and business Park in Kakooge, Nakasongola Districts which is located at Katuugo on the Kampala – Gulu – Juba international highway.
The Minister of State for Investment and Privatisation Hon Evelyn Anite May 13th 2022, led a high powered delegation from Uganda Investment Authority who included the Board Chairman Morrison Rwakakamba and Director General Robert Mukiza to physically hand over the land to the Turkish Businessmen.
The delegation also included the Ugandan Ambassador designate to Turkey, Ambassador Nusura Tiperu and the outgoing Ambassador Stephen Mubiru.
The Turkish Delegation was led by Deputy Trade Minister Riza Tuna Turagay and the Turkish Ambassador to Uganda Fikret Karem Alps.
The Director General of Uganda Investment Authority Robert Mukiza takes the Turkey Investors led by Deputy Trade Minister Riza Tuna through the bushes of Nakasongola.
Minister Anite said that the occasion marks an important milestone in the country’s industrial revolution where the government of Uganda has tasked Uganda Investment Authority to establish 25 Business and Industrial Parks across the country.
Minister Anite reassured the prospective businessmen and investors that the government of Uganda under able leadership of President Museveni is committed to guarantee a peaceful conducive environment for the investors to work.
The Minister said that with the favourable attractive investment conditions that has been put in place and a One Stop Center for licensing business and investment was optimistic that the Turkey investors will find favourable conditions to operate in Uganda.
According to Minister Anite, Uganda Investment Authority will ensure installation of critical infrastructure like access roads, industrial electricity and water, ICT systems, drainage systems, waste and management systems and encouraged both domestic and foreign investors to invest in the regional industrial parks which are to be established across the country.
The Chairman of the Uganda Investment Authority Board of Directors Morrison Rwakakamba, said with Uganda enjoying security, peace and stability, this is the time to laser-focus on economic activity for wealth creation through industrialisation.
Rwakakamba said that the Uganda – Turkey Summit has been a success since the participants have had a hands on experience on what potentials and opportunities awaits them once they arrive in Uganda.
He said that trade volumes between Uganda and Turkey increased from US 63 million dollars in 2020 to US 71 million dollars in 2021 which he said was realised as a result of bilateral relations between the two countries which have existed since 1969.
The UIA Board Chairman reiterated that the investment incentives put in place to woo the foreign investors to Uganda like tax waivers, were deliberately done to ensure that the investors can set base in Uganda.
The Director General of Uganda Investment Authority Robert Mukiza said they have already conduct feasibility studies to ensure that the Turkey Industrial Park fit with the economies of their location.
Turkey Delegation viewing the 640 Acres of land that has been allocated to them to establish a business and industrial Park.
Mukiza implored the local people should prepare to take up the upcoming opportunities in the industrial parks saying that they should not only embrace the establishment of park but get involved through production of much needed raw materials and also get skills.
President Yoweri Kaguta Museveni tasked Uganda Investment Authority to develop 22 Industrial and Business Parks around the Country with an aim of creating more jobs, ease accessibility of land for investments, introduce new research, technologies and skills development as well as boost Uganda’s exports hence increasing Uganda’s revenue base.
The Uganda Investment Authority Board in 2017 approved an additional one industrial park in Buliisa and 4 regional science and technology industrial parks making a total of 27 industrial parks in total.
President Museveni hopes that the completion of these industrial parks will add value to locally available raw materials thus boosting the agricultural and mineral sectors and ensure import substitution for Uganda is getting outside the country.
There are already 3 government-owned industrial parks within the Kampala – Mukono – Wakiso region which include the Kampala Industrial and Business Park (KIBP), Namanve, Luzira Industrial and Bweyogerere Industrial Parks.