By Wasswa Deo
Uganda Free Zones Authority has today handed over licenses to two companies to develop industrial zones in three districts including Jinja, Masaka and Kalungu.
The companies include, Jinja based Nilus group limited and Uganda wood Impex limited based in Masaka and Kalungu.
Nilus group limited will take on Tobacco leaf processing for export to Europe, middle East and Egypt while Uganda wood Impex limited will be dealing in timber processing and essential oils for export.
While handing over the licenses to directors of these two companies, Magret Banga, the board vice chairperson of Uganda Free Zones Authority, said that this has been done in line with the government’s policy to market and promote investment in the manufacturing and processing sector in order to boost Uganda’s export.
During the event, the investors urged the government to prioritize those who invest significantly as this will encourage further investment and growth of country’s economy.
Nilus group limited will invest US $ 10.5 Million in this project due to start in August this year and it is estimated that the project will offer 220 direct jobs and 1400 indirect jobs. Uganda Wood Impex Limited will be investing US $1.2 million and hoping to employ about 60 people.