Promoting Industrial Development and Investment is the daily business of President Museveni-Evelyn Anite
Ms. Evelyn Anite the Minister of State for Investment and Privatization Ministry of Finance, Planning and Economic Development (MFPED) has stated that one of the daily work of President Museveni is the promotion of Industrial Development and Foreign Direct Investment to spur Social-Economic Transformation of Uganda into a self-sustaining industrial economy with beautiful, health and prosperous people.
The private sector has been directly supported through industrial parks’ development, promoting Small and Medium Enterprises (SMEs) and facilitating tourism. Eight government owned industrial parks are currently operational. These are Namanve, Jinja, Bweyogerere, Mbale, Soroti Mbarara and Kasese, Luzira. In addition, there are three industrial parks developed under a Public Private Partnership arrangement at Kapeeka, Mukono and Buikwe.
Uganda Investment Authority has acquired 12 square miles for industrial development provided by various Local Governments in the 18 zones across the country.Uganda’s global reputation as an investment destination has been boosted significantly in the recent past. Uganda has been named the Number One investment destination in East Africa, by the AIM Global 2023 Abu Dhabi. In addition, our country has been ranked among the top ten African countries for best investment destination in Africa by the African Development Bank. It is now also ranked first in East Africa for capital market growth by ABsa Bank.
SMEs in the manufacturing and export sectors is supported by the US$ 200 million World Bank Investment for Industrial Transformation and Employment (INVITE) Project that is providing grants and concessional credit to qualifying SMEs. These SMEs will access new and innovative financing products with long term financing of up to 15 years. This intervention aims at increasing Ugandan manufactured export products, generate direct and indirect jobs for more than 200,000 workers, and safeguard existing jobs for 530,000 workers.