By David Rupiny

Finance Minister Henry Musasizi has directed the management of Uganda Investment Authority (UIA) to prioritize the completion of key infrastructure projects, including roads, water, and power in industrial parks to facilitate their growth and also attract investors.

The Minister made the remarks today during a meeting with the Management team of Uganda Investment Authority led by the Director General, Robert Mukiza.

Musasizi said Industrial parks must be licensed when all amenities are accessible, adding that investment promotion and facilitation are core functions of the Ministry.

The UIA Director General said 14 out of 25 planned industrial and agricultural business parks are fully operational, adding that 463 companies are fully operational.

He also said USD 5.881 billion has been mobilized by the park ecosystem, and 164,230 jobs have been created, directly and indirectly, by manufacturing.

Mukiza, however, noted the need to operationalize regional One-Stop Centres, especially in operational industrial parks, to bring investment facilitation services nearer to the investors.

He urged Government to provide more funding for park development and maintenance and also prioritize negotiating for competitive power tariffs and dedicated substations for industrial parks to ensure power reliability.

The Minister of State for Privatization and Investment, Amina Mukalazi, said there is a need for improvement in the licensing and follow-up to ensure the challenges faced by investors are fully addressed.

She also said the One-Stop Centre should be strengthened with staff who can make decisions to ease and speed up the process of licensing investors, adding that all incentives should be known by all prospective investors.

Mukalazi also called for a review of land ownership in parks, explaining that unutilized land in industrial parks should revert to the government after a specified time so that investors who are committed can use that land.

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