The state minister for Investment and Privatization, Evelyn Anite Anite has urged foreign investors to continue investing in Uganda, emphasizing that their profits could significantly drive the country’s economic growth while boosting their own investments.
While officially opening the newly Staunch Machinery Factory in Namanve Industrial Park last week the minister said with all these incentives that tax holidays, free land, foreign investors have to give jobs to Ugandans, pay taxes and reinvest their profits in the country.
The newly opened factory is owned by Mohammad Hussein, Uganda’s Honorary Consul to Lebanon, who has opted to reinvest a portion of his profits back into Uganda instead of transferring all of it to Lebanon. The factory employs over 100 Ugandans and specializes in manufacturing tractors, milk coolers, and other agricultural and power solutions.
“I want to call all investors from Lebanon and around the world to come to Uganda. This factory is exporting items to Kenya, Rwanda, Tanzania, Burundi, and South Sudan. We even plan to export to Australia and Europe from Uganda,” Hussein remarked.
“Our machines primarily serve the cattle corridor, and producing them locally in Uganda significantly cuts costs by up to 50 per cent, thanks to the incentives we receive,” he explained.
With a planned total investment of $25 million, the company has already injected $7 million into the project. Hussein also encouraged Lebanese investors to explore opportunities in Uganda, citing the country’s stability and security even as conflicts persist in other parts of the world.
Robert Mukiza, director general of the Uganda Investment Authority (UIA), announced last week that the government is actively supporting local traders to transition into manufacturing.
atiluknathan@gmail.com
So minister Anite, Uganda owned by Rwandese Museveni since 1986 with no chance for change is well governed, Ugandans served with good Social/Pubic Services & foreign investors just have to reinvest to ensure the good living Museveni brought to Ugandans?
Anite, 39 years of Museveni has made you so so proude & you want him to just continue your good living!
But of course, it’s up to Ugandans, in UNITY with just 1 National/Common Leader, to bring down the tribalistic system FIRST, then come out in UNITY to block & stop Museveni!