Infrastructure Development in Industrial Parks Must be a Priority- Musasizi

Finance Minister Henry Musasizi has directed the Management of Uganda Investment Authority (UIA) to prioritize the completion of key infrastructure projects including roads, water and power in industrial parks to facilitate their growth and also attract investors.

The Minister made the remarks during a meeting with the Management team of Uganda Investment Authority led by the Director General Robert Mukiza.

Musasizi said Industrial parks must be licensed when all amenities are accessible, adding that the investment promotion and facilitation is one of the core functions of the Ministry.

The UIA Director General said 14 out of 25 planned industrial and agricultural business parks are fully operational, adding that 463 companies are fully operational.

He also said USD 5.881 billion has been mobilized by the park ecosystem and 164,230 jobs have been created directly and indirectly led by manufacturing.

Mukiza however noted the need to operationalize regional one stop centres especially in operational industrial parks to bring investment facilitation services nearer to the investors, in addition to providing more funding for park development and maintenance.

He also said government should prioritize negotiating for competitive power tarrifs and dedicated substations for industrial parks to ensure power reliability.

The Minister of State for Privatization and Investment Aminah Mukalazi said there is need to improvement in the licensing and follow up to ensure the challenges faced by investors are fully addressed.

She also noted that one stop Centre should be strengthened with staff who can decisions to ease and speed up the process of licensing investors, adding that all incentives should be known by prospective investors.

Mukalazi also said unutilized land in industrial parks should revert to government after a specified time so that investors who are committed can use the land.