The appeal was made during a meeting between UDC officials and the Ministry of Trade, Industry and Cooperatives, where the corporation presented its achievements, ongoing projects and future investment plans.
UDC Managing Director Patrick Birungi said the corporation’s investment portfolio has grown to 28 initiatives spanning infrastructure, agro-processing, manufacturing and tourism, with a current value of about Shs1.4 trillion.
He said the investments have created more than 5,400 jobs, highlighting projects such as Kalangala Infrastructure Services, which provides water and electricity services on the islands, and Speke Resort Convention Centre in Munyonyo.
However, Birungi said the corporation’s ability to support more industrial projects has been constrained by limited financial resources.
“We need increased capitalization so that we can access funds to finance industrial development. Our mandate is to support the private sector, but limited resources have affected our ability to do more,” Birungi said.
He also raised concerns over office space, noting that some government properties owned by UDC are occupied by other agencies, forcing the corporation to rent offices despite an expanding workforce.
UDC Board Chairman Godfrey Ruhurira said the corporation had strengthened its governance systems and was seeking an engagement with President Yoweri Museveni to present its strategy and receive guidance on its future direction.
Trade Minister Sanjay Tana, however, challenged UDC to provide clearer accountability on its investments, including funds committed, returns generated and whether projects were achieving their intended objectives.
Tana urged UDC to prioritise sectors with high economic potential, including fish feed production, agro-processing, honey value addition, cassava processing and fruit processing.
He said Uganda should reduce reliance on imported products where local production capacity exists.
“We need to support industries that are aligned with our priorities. For example, Uganda should not continue importing fish feeds when we can produce them locally and promote fish farming,” Tana said.
The minister also encouraged UDC to develop proposals for utilising idle storage facilities and investing in agricultural value addition, including honey processing from regions such as Kigezi, Tooro, Ankole and northern Uganda.
He pledged government support towards UDC’s search for additional funding but cautioned that investments must deliver measurable economic benefits.
Tana further encouraged the corporation to establish a permanent headquarters with enough space to accommodate other government agencies, including the Ministry of Trade.