UGANDA, West Nile | Real Muloodi News | The Uganda Investment Authority (UIA) has initiated a feasibility study for three proposed industrial parks in the West Nile region.
This development comes after nearly two years of three districts in the area offering generous amounts of land for the establishment of these industrial parks.
Nebbi District has contributed 511 acres, the Madi Okollo District has allocated 515 acres, and the Yumbe District has donated 1,200 acres of land.
Morrison Rwakakamba, the Chairperson of the Uganda Investment Authority board, stated that the ongoing feasibility study will enable the authority to create master plans for the industrial parks.
Upon approval of these master plans, plots will be allocated to both local and foreign investors.
In 2021, President Museveni directed the Uganda Investment Authority (UIA) to establish 25 industrial parks across the country.
The primary objective is to facilitate investors in establishing manufacturing facilities that promote efficient and cost-effective production of goods and services for both local consumption and export.
Each industrial park is designed to occupy a minimum of 500 acres of land, and the West Nile region is a part of this ambitious plan.
Evelyn Anite, the State Minister for Finance, Planning, and Economic Development, emphasised that the construction of industrial parks in the region will contribute to the economic transformation of West Nile.
She encouraged domestic investors to seize the opportunity presented by the strategic location of West Nile, which shares borders with two countries and provides access to a market of over 100 million people.
Meanwhile, local entrepreneur Evelyn Angumoko in Arua City urged local investors to prepare themselves to capitalise on the opportunities that will arise in the industrial parks within the region.
According to the UIA, a total of 3,380 acres of land has been secured across six districts in Northern Uganda for the establishment of industrial parks.
This commitment underscores the government’s dedication to promoting industrialisation and economic growth in the region.
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