Rédaction Africa Links 24 with Uganda Monitor
Published on 2024-03-14 14:00:30
The Government of Uganda has allocated five hectares of land in Jinja Industrial Park to a new Chinese investor named Zeng Rong Yao. This investor plans to establish two companies, one specializing in shoe manufacturing and the other in ceramics production.
According to Ms. Evelyn Anite, the State Minister for Privatization and Investment, the new investor is committed to investing $10 million, equivalent to Shs 39 billion, in Uganda. This investment is expected to create job opportunities for 500 Ugandans. In a telephone interview on March 13, Ms. Anite stated, “The investor came requesting for land to do his businesses and he said he was going to invest $10 million in Uganda and he is going to create about 500 jobs for Ugandans. Land is available and free of charge.”
The investor, Mr. Yao, expressed his appreciation to the government of Uganda for their support in facilitating investment and entrepreneurship in the country. During a press briefing in Kampala, Mr. Yao commended the government for their professionalism and efficiency in providing information and guidance to potential investors.
President Yoweri Museveni inaugurated the Electronic Investor Protection Portal (EIPP) last year to address issues such as corruption, bribery, and delays faced by investors. The portal, developed by the State House Investors Protection Unit and the National Information Technology Authority, allows investors to report complaints directly to the Office of the President.
Col. Edith Nakalema, who heads the State House Investors Protection Unit, highlighted the benefits of the EIPP, including the ability for investors to receive timely feedback and report any complaints through a live chat feature. The portal also offers language translation services to accommodate investors who are not proficient in English.
Despite efforts to combat corruption, it continues to impede Uganda’s development progress, leading to significant financial losses. The Inspector General of Government estimates that Uganda loses around Shs 10 trillion annually due to corruption in both private and public sectors.
Overall, the government’s collaboration with foreign investors like Zeng Rong Yao demonstrates Uganda’s commitment to fostering economic growth and creating employment opportunities for its citizens. Through initiatives like the EIPP, the government aims to improve the investment climate and address issues that hinder the country’s development.
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