BY F MALE: A group of Asian investors based in the United Kingdom has announced plans to invest over $10 million in Uganda, targeting various sectors such as real estate, agriculture, and pharmaceutical manufacturing. The delegation, led by Jaffer Kapasi, the Honorary Consular General from the Uganda High Commission in London, recently visited the State House Investors Protection Unit (SHIPU) in Kampala.
During a press briefing at the State House, Kapasi revealed that the investors are also considering establishing a state-of-the-art health center in Uganda. Furthermore, they have expressed interest in acquiring land for agricultural purposes to implement advanced farming techniques and machinery, which would enhance food production and potentially export surplus to neighboring countries.
The investors sought assurances from SHIPU regarding the availability of land and the necessary support for their agricultural ventures. Kapasi confirmed that, having received positive feedback, the investors are ready to commence their projects within the next six months.
However, the investors raised concerns about corruption and the potential risks to their investments. They emphasized the need for robust protection measures to safeguard their capital and ensure the return on investment in case of unforeseen circumstances.
Colonel Edith Nakalema, Executive Director of SHIPU, assured the delegation of the Ugandan government’s commitment to protecting foreign investments. She highlighted the role of the Investors Electronic Protection Portal, an initiative launched by President Yoweri Museveni, which aims to provide a secure and transparent investment environment. This portal is designed to help foreign investors understand the vast potential of investing in Uganda and offers a platform for addressing their concerns.
Colonel Nakalema noted that some members of the delegation already have existing investments in Uganda, particularly in the vanilla and construction industries. She reassured the investors that SHIPU will coordinate with all relevant ministries, departments, and agencies to ensure a seamless investment process, free from unnecessary bureaucratic delays.
Established in May 2023, SHIPU is tasked with ensuring the effective implementation of presidential directives and investment policies. The unit is dedicated to creating a favorable investment climate by addressing investor concerns and facilitating smooth operations.
With the new influx of investment, Uganda anticipates significant economic growth and development in the targeted sectors, further solidifying its position as an attractive destination for international investors.