UGANDA, Hoima | Real Muloodi News | The State Minister for Finance in Charge of Investments, Evelyne Anite, announced that the government has allocated part of the 500-acre Hoima Industrial Park to Indian investors.
This development followed the Afro-Indian Investment Summit, which the government and the Indian Association of Uganda hosted in Munyonyo, Kampala earlier this year.
The government offered the Hoima Industrial Park to Indian investors who expressed interest in developing it.
Anite noted that 10 investors closed deals and that the government is working with Hoima Local Government to identify land for them in the park.
“For us as government, that is a very important development. We got 10 investors who closed deals and we are working with Hoima Local Government to identify for them land in Hoima Industrial Park. We want them to come and they be together. As government, our focus is in four sectors that is agribusiness, manufacturing, ICT and services,” she said.
Mr Sanjay Thakkar, the Executive Chairman of the Lohana International Business Forum, stated that they had organised more than 750 investors from the Lohana community, with most having confirmed attendance for the upcoming Lohana International Business Forum that will run from March 20th to 22nd in Kampala. The majority of those who confirmed attendance are interested in investing in Uganda.
The Lohana community has invested in an $11m project along the Lugogo bypass and is building the Lohana Arcade in downtown Kampala.
“We have so many people coming to Uganda for the first time and 70 percent of the investors will like to invest in Uganda. We have a $11m project on Lugogo by pass and we are building the Lohana Arcade,” he said.
Mr Vinay Dawda, a member of the community, explained that Lohana is a strong business community originating from Western India with a population of 2.5 million.
The Madhvani and Metha groups, he said, trace their ancestry to this community.
The Government’s Focus
Anite also highlighted that the government’s focus is on four sectors: agribusiness, manufacturing, ICT, and services.
She emphasised that the government is committed to working with Indians, which has been demonstrated through the return of over 90% of the assets of Indians that had been seized during the 70s by the Idi Amin-led government.
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