UGANDA, Tororo | Real Muloodi News | The commencement of the Tororo Oriental Industrial and Business Park has been officially marked by the government, with expectations to generate over 1,000 employment opportunities as outlined in its development blueprint.
During the groundbreaking ceremony for the $150 million project (approximately USh58 billion), Finance State Minister for Privatisation and Investment, Evelyn Anite, affirmed that the park would be constructed by a consortium of private Chinese investors.
Over 10 factories are slated to be established within the park through this joint venture.
Key investors involved in the project include Guangzhou Maoyuan Electronic Technology Company Limited, Granvista Steel Construction Limited, Orion Electric Company Limited, Seener Electricals Uganda Limited, Silicon Materials Technology Uganda Limited, Silicon Mining Uganda, and Wuqu Enterprises [SMC] Limited.
Anite elaborated on the diverse range of products that would be manufactured within the park, stating, “The park is going to be a home of producers for various items including phones, radios, transformer cables, electric cables, steel manufacturing, and value addition for cereal crops.”
Highlighting the government’s commitment to industrialisation, Anite emphasised that the establishment of an additional industrial park in Tororo district aligns with the country’s zoning concept.
She disclosed that Uganda has been zoned into 18 zones, to promote industrial growth across different regions.
Expressing optimism about the economic impact of the project, Anite urged Ugandans to embrace foreign investors.
She noted, “These investors are improving the welfare of our people by creating jobs for over 1,000 youth who could be problems in the communities. This is what we call social-economic transformation.”
Furthermore, Anite underscored the government’s efforts to equip the youth with relevant skills and training opportunities in technology and manufacturing production, aimed at enhancing their competitiveness in the labour market.
Addressing challenges faced by previous investment projects, Anite acknowledged the setback experienced at the Sukulu Phosphate Fertiliser factory, attributing it to fraudulent activities perpetrated by criminals.
She assured stakeholders of the government’s commitment to safeguarding investments and promoting a conducive business environment.
Morrison Rwakakamba, Chairperson of the Uganda Investment Authority (UIA), reiterated the organisation’s dedication to facilitating investor services through the one-stop business centre, both physically and online.
Meanwhile, Tororo District Vice LC5 Chairperson, Rebecca Akumu, called upon investors to prioritise local community members in job opportunities as a gesture of appreciation for their contribution of land towards hosting the investment.
She emphasised the district’s anticipation of benefiting from the project’s positive outcomes, particularly through job creation and economic development.
READ MORE LIKE THIS:
UIA Offers Ugandans Opportunity to Access Free Land in Industrial Parks
UNRA Set to Complete Half of Tororo-Kamdini Road Works in 2024
