Connect with us

Manufacturing

UIA seeks funding for Kisoro Industrial Park construction

UIA seeks funding for Kisoro Industrial Park construction

Robert Mukiza, the Director General of UIA makes this revelation as he speaks as Chief Guest at the 2023 Isangane Festival. (Courtesy photo)

In a significant stride towards fostering economic growth and development, the government of Uganda has successfully acquired the designated land for the Kisoro Industrial and Business Park in Kisoro District. The Uganda Investment Authority (UIA) obtained the crucial land title, marking the borders and setting the stage for imminent construction activities.

The completion of this land acquisition phase now hinges on the finalization of the feasibility study and the formulation of a financing plan, as revealed by Robert Mukiza, the Director General of UIA. He affirmed that the development of the Kisoro Industrial Park is progressing smoothly and is in line with the establishment of 25 similar facilities nationwide.

Kisoro district authorities played a pivotal role by allocating 620 acres of land in Kibaya, situated in Bunagana and Rukundo Towns, for the industrial park’s development on August 18th, 2021.

The crucial step ahead thereby involves discussions on financing the construction of the industrial park.

Mukiza underscored his unwavering commitment to realizing the industrial park dream for Kisoro, echoing President Yoweri Museveni’s dedication to the economic development of the region.

In the broader context of Uganda’s national industrial agenda, President Museveni greenlit the establishment of 25 industrial parks across all sub-regions in May 2021. These parks form a crucial component of the government’s strategic push for industrialization.

Over the past six years, at least 15 industrial parks have been successfully established, including notable locations such as Mbale, Kapeeka, Buikwe, Njeru, Namanve, Jinja, Soroti, Kampala Industrial and Business Park, Luzira Industrial and Business Park, and Bweyogerere Industrial Estate.

To facilitate the establishment of 20 zonal industrial parks nationwide, the government allocated 130 Billion Shillings in October 2019.

This funding is indicative of the understanding that industrial parks operate as engines of economic growth, bringing in investments, creating jobs, and strengthening local economies.
For the area, the completion of the land acquisition for the Kisoro Industrial and Business Park represents a critical turning point.
The community and stakeholders gain confidence from Mukiza’s promise of the project’s advancement, indicating a promising future for Kisoro’s economy.

Collaboration between public and commercial organizations, as well as the local community, will be essential to the success and long-term viability of this enormous project, particularly as talks about funding the industrial park’s construction take center stage.
The Kisoro Industrial Park has the potential to be a game-changer and boost the local economy in the area.

Continue Reading
You may also like...
Click to comment
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Manufacturing

IDEASHOUSEBIZNEWS


Uganda's leading Trade, Business, Brand, Company, Corporate, Industry, Investments, a Services, and Sustainability(tbcis) News Site.

Covering Customer, Company, Corporate, Community and Country News, giving Accurate Analysis, Assessment,and Answers for Application.

Trending Stories!

News Categories

Subscribe to our Newsletter

To Top