UIA seeks UGX 173.9B to boost industrialization

KAMPALA, Uganda — Uganda’s Parliamentary Committee on Finance, Planning, and Economic Development on Tuesday praised the Uganda Investment Authority (UIA) for its efforts in promoting industrialization, and called for increased funding to support the development of industrial parks.

The committee’s endorsement came as UIA Director General Robert Mukiza presented the authority’s Budget Framework Paper for 2025/2026. Mukiza said the UIA is seeking 173.9 billion shillings to cater for wage and non-wage expenditures, with 161.5 billion shillings allocated for ongoing infrastructure development in industrial parks.

The UIA’s key priorities for the upcoming financial year include promoting Uganda as a preferred destination for foreign and domestic investment, improving domestic and international competitiveness, and accelerating industrialization through serviced industrial and business parks.

“We are happy to note that the UIA’s work in promoting investment and industrialization is visible and progressive,” said committee Chairperson Amos Kankunda. “I’m happy to learn that the Authority has created the Domestic Investment Division, entirely meant to ease the investment processes for our local investors. We applaud UIA for that.”

Committee acting Vice Chairperson Dr. Emely Kugonza emphasized the importance of strong investment in industrial park development to achieve Uganda’s economic growth goals.

“For Uganda to achieve 10-fold economic growth, there must be a strong investment in industrial park development across Uganda,” Kugonza said. “We need to change the trajectory and narratives. The Government and the Ministry of Finance should adequately finance the Uganda Investment Authority to get our industrial growth and development to where we want to be.”

Mukiza said the UIA is committed to promoting investments that add value to local raw materials, create jobs, and transfer technology, knowledge, and skills.

“We do not favor international investors over domestic ones,” Mukiza said. “All are considered investors and are entitled to government tax and non-tax incentives.”

In the financial year 2023/2024, the UIA licensed 426 planned investment projects valued at 2.61 billion dollars, equivalent to 9.63 trillion Ugandan shillings.