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Quality Chemicals is best investor

By Vision Reporter

Added 20th January 2008 03:00 AM

QUALITY Chemical Industries has been voted the investor of the year 2007.

QUALITY Chemical Industries has been voted the investor of the year 2007.

By David Muwanga

QUALITY Chemical Industries has been voted the investor of the year 2007.

The pharmaceutical giant was recognised with a golden award during the Uganda Investment Authority’s (UIA) popular annual event at Hotel Africana over the weekend.

A UIA report explained that the company won the top accolade after it responded to the Government’s call for increased foreign investment in the pharmaceutical sector.

The report added that the firm has invested $32.4m (about sh55b) in a modern pharmaceutical processing plant at the Luzira Industrial Park, Kampala.

Quality Chemicals is the first local company to start manufacturing Anti Retroviral Drugs (ARVs) and malaria drugs.

It has created 84 jobs for the locals.
The UIA report further stated that the company had saved the Government lots of foreign exchange previously spent on the importation of ARVs and malaria drugs.

The firm also won the judges hearts for good environmental practices by installing an effluent treatment plant and multi-stage air filters in the production facility.
New Forests Company, which invests in the forest sector, won silver.

The company has invested $4.5m in setting up well- maintained forest plantations.It has planted over 26,000 hectares of forests, the biggest in the history of Uganda to have that size in a short time.

The panel of judges also liked the firm’s corporate social responsibility of building schools and provision of learning aids, grading the roads and improving water facilities.

Its creation of 540 jobs was also another winning factor for the Mubende-based forest firm.
The company expects to expand to Bugiri and Kiboga.

Wagagai Limited in Wakiso district won the bronze award for investing euro 9.37m in a modern flower farm.

The firm has created 1,122 jobs, contributing to poverty reduction.
It realised a turnover of euro 4.5m, helped improve infrastructure around the area it operates and provided a clinic and a soccer pitch to the community.

Britania Allied Industries won the medium-scale category award for putting up a modern agro-processing plant.

The company has invested $8.76m in a modern juice processing plant. It employs 195 Ugandans.

The small enterprise category award was taken by Victoria Seeds for the provision of improved seeds to farmers.

The firm has invested $1.48m in the sector.

The company employs 69 people including 24 women groups.

It has installed a modern seed processing plant in Gulu.

It has also established a research and multiplication centre of delicate seeds in Kawanda.

The first runner-up in the medium category was Parambot Breweries for investing $1.6m and creating 131 jobs.

The second runner-up in the category was Graphic Systems that invested $9.271m and spent $16,843 on staff training and created 389 jobs.

Dunavat Uganda was the first runner-up in the small scale category for investing $20m in agriculture and creating 515 jobs.
It also spent $60,000 on employee training.

The second runner-up in the category was Sameg Chemical Products, which invested $0.8m and spent $30,000 on workers’ training.

The best women entrepreneur’s award was taken by Regina Mukiibi, the proprietor of the Uganda Funeral Services.

awards agala asked investors to report the Government officials who ask for bribes to him.

“Anybody that asks for a bribe should be reported to me or inform the executive director of the UIA. The culprits will be arrested and jailed,” the President stressed.

“Do not be intimidated by anybody, just report them if somebody is playing games with you. There is enough room for them and suitable accommodation,” he said.

Museveni reiterated the Government’s commitment to attract more investment through lifting the profile of the country.

“This will also be done through creating awareness of the investment opportunities and facilitating investors in the country by smoothing out the investment process,” he said.

“We are smoothing out investment processes by attracting investments with desirable characteristics like value addition, employment creation, technology and skills transfer, local raw material usage and foreign exchange earning potential.”

Quality Chemicals is best investor

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