The Uganda Investment Authority (UIA) has secured over 15,000 acres of land across the country to set up industrial parks for job creation among the youth.
The State Minister of Finance for Investment and Privatization, Evelyn Anite, said that most of the land was offered by local governments over the past few years to set up an industrial park.
She made these remarks on Monday, September 23rd, 2024, during an interview with the local radio station.
Minister Anite noted that the land will be freely given out to individuals who want to set up factories as an incentive, adding that this will directly cause enormous job creation for youth who are unemployed.
“The establishment of these industrial parks is expected to significantly contribute to job creation, addressing the high unemployment rates among Ugandan youths,” Anite said.
This development is part of a strategic plan to enhance local production capabilities and attract foreign investment, thereby fostering economic development in Uganda too.
The initiative aligns with the government’s broader strategy to promote industrialization and economic growth through the establishment of at least 25 industrial parks nationwide, as directed by President Yoweri Museveni.