President Yoweri Museveni on Thursday commissioned four factories at the Sino-Uganda Industrial Park in Mbale, eastern Uganda. The four factories are part of 55 factories that will be established in the industrial park with a total value of 600 million dollars. At full capacity, the industrial park will create an estimated 15,000 jobs for Ugandans
President Museveni also laid a foundation stone for Automobile of Uganda Group, which will assemble Jeep cars, as well as a mattress making factory.
Seven additional factories are at advanced stages of constriction and are expected to be commissioned in the next seven months.
In 2018, the Government of Uganda, through Uganda Investment Authority, acquired 619 acres of land and signed an agreement with Tian Tang Group, which mobilized a consortium of eight Chinese companies to invest in the industrial park.
President Museveni promised to develop Mbale into an industrial town for the manufacture of products like steel, and others that include a lot of local raw materials.
Said the President: “It’s through industrialization that we can have a modern society. This investment project is located on 619 acres of land and one factory that I have just commissioned is to manufacture electric cables, it is located on only ten acres, it’s going to save us from spending about 200 million dollars annually on imports, it’s creating jobs.”
The President said investors establishing industries in traditional towns and other areas in the country will benefit from a 10-year tax holiday.