Investors have been encouraged to invest in value addition in Kigezi sub-region by setting up businesses in Kisoro Industrial and Business Park. They have been guaranteed of their security and their properties as they invest in the sub-region.
The call was made by Uganda Investment Authority (UIA) and other regional leaders at the Kigezi Investment Summit in Kisoro, which also marked the launch of Kisoro Industrial and Business Park at the weekend.
Dr Robert Mukiza, the Director General of UIA, urged the regional leaders to tap into the huge market that extends beyond Kisoro to Kigezi and DR Congo by investing in the Kisoro Industrial and Business Park.
“We envisage Kisoro Industrial Park will target not only the Kigezi but a regional market. We encourage investors in value addition and exploit the vast market,” he said.
Dr Mukiza also said Uganda has proven to be stable for the last 30 years.
“To all investors, this is where you need to come and invest. Uganda has very low crime rate. Uganda is the most open economy for foreign investors. It has excellent working environment; friendly, good housing, schools and hospitals,” he said.
The Board Chairman of UIA, Mr Morrison Rwakakamba, said with the admission of DRC into the East African Community, the regional bloc now boasts of over 300m people.
“The increase of the regional bloc’s market to 300 million people creates new investment opportunities and with Kigezi bordering DRC & Rwanda, there’s no better place to establish an industrial park,” he said.
“UIA is keen to promote Kigezi to investors, in sectors like agriculture, agro-processing, education, manufacturing, ICT, tourism and other sectors,” he added.
The Kisoro LC 5 Chairperson Alex Bizimana said Kisoro is one of the most fertile lands in the country.
“We have labour, educated people, and so religious and thus have high moral values. The people of Kisoro, the Bafumbira, are industrious, business-oriented, hardworking, hospitable, knowledgeable, honest and faithful, hence good for investment,” he said.
State minister for Finance (General Duties) Henry Musasizi said the people who will invest in Kigezi will have massive tax incentives.
“There will be cheapest electricity. There will be cheap transport,” he said.
Finance Minister Matia Kasaija said: “My coming here is fulfilling President Museveni’s directive to me to industrialize the country and create jobs”.
“One of our biggest challenges is creating jobs to army of young people. Industry and agriculture is where to focus. My appeal to investors is to also consider job creation in addition to deploying new technology,” he added.
Investment Minister Evelyn Anite said: “I thank the people of Kigezi, particularly Kisoro, for being one of the first to offer land for industrial park development”
Denis Ngabirano, CEO of Psalms Food Industries, the processors of potato chips and crisps, said they want to expand by setting shop in Kisoro Industrial Park, adding that Kisoro potato is best in Africa.
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