Gov’t grants 10 yr tax holiday to COVIDEX Producer

Government has granted a ten year tax holiday to Prof. Ogwang’s plant and machinery as part of incentives for his Jena Herbal Ltd factory which produces COVIDEX drug.

This was on Wednesday when Uganda Investment Authority (UIA) was giving Prof Ogwang a free investment license in Kampala.

UIA has also allocated 5 acre land to Prof Ogwang in Soroti Industrial park to help him in the set up of the factory.

Speaking at the function, Prof. Ogwang said he was ready to hit the ground for the construction of the new factory for his Covidex drug.

“This(factory) is not for Ogwang or Teso region but Uganda and Africa at large.”

“We have already mobilized resources. We are ready to start construction as soon as the environment assessment report is out. I want to thank government for putting more emphasis in local investment,”Ogwang said.

The state minister for investment, Evelyne Anite has disclosed that Soroti industrial park was chosen because of its neatness to the raw materials and other resources used in the manufacturing of the drug.

“We are happy you are close to natural resources. Ugandans are testifying for Covidex to have helped them get relief from Covid. We will give you support since our job by law is to facilitate investment. We will always be available in case of any challenges.

Parrots UG learned that President Museveni is deep in meditation with Mbarara University of Science and Technology and Prof Ogwang over the rightful producer of COVIDEX.

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