By Babra Nambuya and Shamim Saad
22/01/2024
Uganda Investment Authority (UIA) has hosted a high level Business delegation under the Federation of Indian Chamber of Commerce and Industry (FICCI) at the Kampala Industrial and Business Park, Namanve.
FICCI, is one of the apex and oldest chambers in India with over 7000 members and 250 partners across the globe.
Their goal in going to the park was to gain a better grasp of Uganda’s industrialization effort, which would entice them to make additional investments there.
Speaking during the meeting held at the UIA offices in Namanve, the Director, Investment Promotion (IP) and Business Development (BD) Martin Muhangi noted government set up 25 industrial parks across the country to facilitate industrial growth and output.
“The Industrial Park program has been put in place to foster Agro production and facilitate sustainable development in key areas of the country,” he said
He added “The acquired land across the country will to support investors interested in setting up in industrial parks and we are seeking for partners interested,” Muhangi mentioned
In his thank-you note to the team, Muhangi stated that India is regarded highly in Uganda since it is one of the country’s largest investors, a fierce export rival, and a source of employment prospects for Ugandans.
The Namanve Industrial Park’s project manager, Alex Nuwagira, listed tarmacked roads, land surveying, national water, internet, substations in every industrial park, and other infrastructure that supports the investment.
Santosh Mathew, the leader of the business delegation and Additional Director and Head of Africa at FICCI in New Delhi, India, stated that the organization is eager to invest in a variety of industries, including agriculture, food processing, farm mechanization, manufacturing, IT and ITES, textiles, energy, electric vehicles, mobility, tourism, oil and gas, and ICT.
“We are incredibly impressed by Uganda’s remarkable industrialization program accomplishment. We’re putting this up for more discussion, Santosh hinted. The tax incentives provided by UIA make it simple for investors like us to come and build up factories here,”.
Later, the UIA team took them on a guided tour of the park, which included stops at the factories of Kyagalanyi Coffee Limited, which sources and exports some of the best Arabic and Robusta coffee that is certified, as well as Roofings Group, which is the nation’s largest supplier of raw materials to a wide range of industries. Roofings Group offers a wide range of input products, including galvanized wire coils and Aluzinc (AZED) coils.
ENDS…