New investments to create 13,000 jobs
Apr 06, 2009
UGANDA has made progress in attracting investments this year.<br>Despite the ongoing global financial crisis, the country has attracted $223.4m in planned local and foreign investment in January to March, the Uganda Investment Authority (UIA) has announc
By Raymond Baguma
UGANDA has made progress in attracting investments this year.
Despite the ongoing global financial crisis, the country has attracted $223.4m in planned local and foreign investment in January to March, the Uganda Investment Authority (UIA) has announced.
“The Uganda Investment Authority licensed 83 projects with a planned investment value of $223.4m and about 13,000 jobs are envisaged,†said Aston Kajara, the state minister for investment.
He was quoting the Investment Performance Report for the first quarter of this year (from January to March).
Kajara told journalists at the Media Centre in Kampala yesterday that the licensed investors are from Russia, China, UK, South Africa, US, Eritrea, India, Austria, Germany, Turkey and Kenya.
He added that out of the 83 planned investments, 34 projects were owned by Ugandans, while 12 were from China, four from UK and eight investments from India.
Some 30% of planned investment was for the agriculture sector.
Other planned investments are in oils, power, sugar, coffee and cotton, the investment body said.
Other investment sectors include mining and quarrying, construction, finance, insurance, real estate and tourism.
Investments will also be done in electricity, gas, water, transport, communication, storage, trade, community, social and personal services.
Kajara pointed out that the value for agricultural investment amounted to over $72m, while the investment in the manufacturing sector amounted to over $33m.
The manufacturing sector will create the highest number of jobs at 4,791, while the agriculture sector will employ 4,409 people.
Among the agriculture projects is a Russian company bidding to start a jatropha project for production of bio-diesel in Lira district and will employ 2,087 Ugandans, said UIA executive director Dr. Maggie Kigozi.
Kigozi said the prospective Russian bio-diesel investors had acquired land in Lira district, but would also mainly rely on outgrowers to cultivate the jatropha plants.
She said districts across the country had earmarked land for industrial parks, where the investors would access land.
Kigozi said the agriculture sector had particularly improved, having attracted foreign direct investment of $797m.
UGANDA has made progress in attracting investments this year.
Despite the ongoing global financial crisis, the country has attracted $223.4m in planned local and foreign investment in January to March, the Uganda Investment Authority (UIA) has announced.
“The Uganda Investment Authority licensed 83 projects with a planned investment value of $223.4m and about 13,000 jobs are envisaged,†said Aston Kajara, the state minister for investment.
He was quoting the Investment Performance Report for the first quarter of this year (from January to March).
Kajara told journalists at the Media Centre in Kampala yesterday that the licensed investors are from Russia, China, UK, South Africa, US, Eritrea, India, Austria, Germany, Turkey and Kenya.
He added that out of the 83 planned investments, 34 projects were owned by Ugandans, while 12 were from China, four from UK and eight investments from India.
Some 30% of planned investment was for the agriculture sector.
Other planned investments are in oils, power, sugar, coffee and cotton, the investment body said.
Other investment sectors include mining and quarrying, construction, finance, insurance, real estate and tourism.
Investments will also be done in electricity, gas, water, transport, communication, storage, trade, community, social and personal services.
Kajara pointed out that the value for agricultural investment amounted to over $72m, while the investment in the manufacturing sector amounted to over $33m.
The manufacturing sector will create the highest number of jobs at 4,791, while the agriculture sector will employ 4,409 people.
Among the agriculture projects is a Russian company bidding to start a jatropha project for production of bio-diesel in Lira district and will employ 2,087 Ugandans, said UIA executive director Dr. Maggie Kigozi.
Kigozi said the prospective Russian bio-diesel investors had acquired land in Lira district, but would also mainly rely on outgrowers to cultivate the jatropha plants.
She said districts across the country had earmarked land for industrial parks, where the investors would access land.
Kigozi said the agriculture sector had particularly improved, having attracted foreign direct investment of $797m.