“Our goal is not just to attract investment but to forge long-term partnerships that build capacity and drive sustainable development,” Anite emphasized.
Taking action
The Ugandan government is not just stopping at verbal invitations; it has laid a tangible pathway for investors. This includes establishing well-equipped industrial parks, offering significant tax incentives, and ensuring fast-tracked approval processes.
Specific sectors highlighted for growth include agro-processing, textiles, and electronics—industries that can benefit from Uganda’s competitive labor costs and growing domestic market.
Currently, manufacturing contributes 15% to Uganda’s GDP, with a targeted increase to 30% by 2030. This ambitious goal is supported by the availability of a large and affordable workforce, competitive energy prices, and a burgeoning consumer market. For Chinese investors, the allure extends beyond mere production costs. Uganda’s trade agreements offer direct access to over 1.2 billion consumers across Africa and beyond, presenting an opportunity not just for manufacturing but also for penetrating new markets.
The government has earmarked specific zones for setting up operations, particularly aimed at boosting employment and facilitating technology transfer. By doing so, Uganda hopes to not only enhance its manufacturing capacity but also uplift its overall economic landscape, providing numerous opportunities for both local and foreign participants.
