By; Ben Musanje
The Uganda Investment Authority (UIA) has confirmed to have withdrawn land amounting to 60 acres from 14 non performing companies at Namanve Kampala and Soroti Industrial Business Parks.
UIA Executive Director Jolly Kaguhangire says the 52.48 acres of land was withdrawn from 10 non performing companies at Namanve while 7.5land acreage was got from 4 companies at Soroti Industrial Park.
30 other companies in KIBP have been given notice of intention to withdraw allocated land totaling 49.5 acres. This notice will expire with in a period of three months. Failure to take possession of their lands will lead to automatic withdrawal of land.
The land withdrawn from 10 non performing companies in the Kampala Industrial and Business Park, and in Soroti was given to 12 companies that are to invest in strategic areas of the economy such as manufacture of solar panels, processing of fruit juice and cereals and many others. These have been put under tight deadlines of 18 months to commence physical development of their plots.
Meanwhile Uganda has been ranked 6th among the 25 investment destination countries in Africa according to 2017 Ernst and Young Attractiveness Program Report.
The UIA Executive Director Jolly Kaguhangire says the report shows that Uganda is progressing in the investment sector continental wise.
Kaguhangire further says that they have licensed 76 investment projects projected to create over 19,300 jobs with an estimated total investment value of USD 246 million.
However, she says that they need 41bnshs to increase on the salaries of workers and recruit more employees, build more industrial parks and also promote Uganda.
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