The Uganda Free Zones Authority will oversee the establishment of the infrastructure for handling of beef processing and value addition.
Ugandan cattle keepers will reap in terms of value addition as a result of the establishment of the free Zone industrial park at Kaweweta, Nakaseke district.
Minister of finance and economic planning, Matia Kasaija handed over a land title certificate for 18 square miles to ASB Group of Companies, a Turkish firm set to develop the Kaweweta free economic zone.
"This initiative ushers in a critical investment in manufacturing and agribusiness, particularly livestock and meat production in the country. The project will accelerate infrastructural development, create over 10,000-15,000 jobs," said Kasaija
The event took place during a business forum jointly hosted by President Yoweri Museveni and Tayyip Recep Erdogan, the Turkish President at Serena Conference hall
The Uganda Free Zones Authority (UFZA) will oversee the establishment of the infrastructure for handling of beef processing and value addition.
Over 200 Turkish companies will be involved in various stages of beef production and value addition.
Omar Mohammed, Director Legal and Corporate affairs said the 200 Turkish companies will be exempted from the general tax regime as an incentive aimed at promoting exports.
A free zone is a gazetted area where entities benefit from special tax exemption aimed at encouraging production for exports. Uganda’s business community is encouraged to come up with business concepts and apply to the Uganda Free Zone Authority for a free zone.
The Uganda Free Zones Authority Act is established under section 6 of the Uganda Free Zone Authority Act 2014. It is mandated under section 13 (1) to establish, manage, maintain, marketing, supervision and control of free zones.