By Our Reporter,
NATIONAL
Uganda Investment Authority (UIA), an autonomous body dedicated to promoting and facilitating investment in Uganda, has once again demonstrated its prowess by attracting investors from Egypt, Turkiye, Qatar, Morocco and India
During the recently concluded EA Investment Summit, organized alongside NAM, UIA’s top leaders and the Minister of State for Investment, Hon Evelyn Anite, effectively marketed and drew 58 investors from the aforementioned nations to set up in Uganda.
The Uganda Investment Authority presented the country’s readiness for the investors by presenting 10 investment projects in mining, health, ICT/BPO, Agro-value addition worth USD 906,330,000. In addition, 9 public infrastructure projects in health, ports, road construction, development of airports were promoted
The delegation, led by Dato Arshad Mahmood, Chairman of the International Investment Consortium, later met with His Excellency President Museveni. During the meeting, the President emphasized the importance of robust infrastructure, such as roads, railways, and water systems, for successful business operations.
H.E. the President also emphasized the robustness of Uganda’s agro-processing industry, advising investors to invest in the profitable opportunities such as mining, dairy, coffee roasting, textiles, and fruit processing.
On a high key note, UIA management met with an eight-person group of Indian investors at the Kampala Industrial Business Park. The trip was led by Mr. Santosh Mathew, chairman of the business delegation under the apex body FICCI. The investors expressed interest in investing in Food processing, Farm mechanization, Manufacturing, BPO, Pharmaceuticals, Textiles, Energy, E-mobility and Tourism
UIA’s efforts have gained global recognition, with Uganda achieving high ranking and prestigious awards and indices demonstrating significant improvements in the investment promotion and facilitation of investors. Notably, Uganda is ranked first in East Africa and second in Africa as the best investment destination.
Other accolades achieved include;
a) Award for the best Investment Catalyst in the world (Go Global Awards in Rhode Island USA 2023)
b) 3rd most rewarding economy to invest in Africa, the most attractive Economy to invest in within EAC (Oxford Economics 2023)
c) Best investment destination in East Africa (Annual Investment Meeting, Abu Dhab i , 2023)
d) Top 10 in industrial development (Africa Development Bank (AfDB) Africa Industrialization Index 2022)
In a diplomatic move, UIA-led delegations engaged in fruitful discussions during the Afro-Indian Investment Summit, resulting in investment commitments exceeding $169.5 million. These commitments spanned various sectors, including mineral value addition, beverage production, and manufacturing recycling paper waste and hygiene products.
At the Dubai Expo 2020, Uganda, through UIA, made history by becoming the first participant country to publicly announce substantial investments worth over USD 650 million. These investments encompass renewable energy, logistics projects, mining and agro-value addition
Currently, UIA is actively promoting 0ver 70 bankable projects at different stages of development, offering a diverse range of investment options, including Public-Private Partnerships, joint ventures, greenfield/ or brownfield projects and over 250 small business projects
Moreover, Uganda received over USD 400 million in green investment commitments at COP28 in Dubai, focusing on renewable energy, water filtration, and forestry. Recognized companies such as Mandulis Energy, Spouts International, and Nexus Green, all UIA-licensed, pledged support during UIA’s green investment session, further solidifying Uganda’s commitment to sustainable development.
Investors are drawn to Uganda’s favorable business climate, as evidenced by recent deals, including a $10 billion investment in the Oil and Gas sector post-COVID-19.
UIA’s success in attracting investments is further complemented by its innovative facility and all-in-one “the One-Stop Centre’’ for Investors, designed to streamline and enhance investment and business processes. Established to offer efficient and innovative solutions, the One-Stop Centre plays a pivotal role in facilitating business activities.
This centralized hub provides comprehensive investment and business support services under one roof, including business registration, investment licensing, tax registration, trade licensing, environmental impact assessment, land title verification, products and services certification, water and electricity services, immigration services, among others. The integration of these services aims to create a seamless experience for investors, fostering a business-friendly environment.
The country’s stability and commitment to investor safety, coupled with enticing incentives such as a ten-year tax holiday, import duty exemptions, and free land for industrial park investors, make Uganda an unparalleled investment destination in Africa.
