UIA in drive to spread out investments

The Uganda Investment Authority (UIA) is actively creating district investment committees (DICs) in an attempt to spread out investments throughout the country.

Presently, over 90 percent of licensed investments, planned or actual, by the authority are situated in Kampala and the central region.

This is followed by the East and West, with the least amount of investments in the North.

In the last six months, investments worth over $700 million were licensed.

Like is the trend, most of these are in Kampala and the central region.

Although the investment body has promotional documents outlining investments in other parts of the country, most investors prefer to stay within Greater Kampala.

The Executive Director of UIA, Jolly Kaguhangire, says to address the imbalance, UIA is now setting up district investment committees in rural districts.

The DICs have so far been established in the regions of Bugisu, Bukedi, Rwenzori and Kigezi. The concept will be rolled out to the rest of the country.

The DICs are vehicles for attracting investments at district level.

According to Hassan Ggaliwango, the director of land development, the UIA is also developing its industrial parks in major towns like Jinja, Mbale, Moroto, Masaka, Mbarara, Kasese, Fort Portal, Hoima, Lira, Gulu and Arua.

Ggaliwango says Mbale industrial park, for example, has been given to a private developer to set up the structures to be rented out to investors.

Ggaliwango appeals to districts to support the UIA in acquiring land for industrial parks and other investments in order to spread out investment opportunities.

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