Govt allocates Indian investors part of Hoima industrial park
What you need to know:
- Government is seeking to get land in the Hoima Industrial Park for 10 Indian investors who closed deals during the Afro-Indian Investment Summit last year
State Minister for Finance in charge of Investments Evelyne Anite, has said government has allocated part of the 500-acre Hoima Industrial Park to Indian investors.
Speaking at a press briefing to announce the upcoming Lohana International Business Forum in Kampala yesterday, Ms Anite said following the Afro-Indian Investment Summit, which government and the Indian Association of Uganda hosted in Munyonyo, Kampala this year, government had offered the Hoima Industrial Park to Indian investors who had expressed interest in developing it.
“For us as government, that is a very important development. We got 10 investors who closed deals and we are working with Hoima Local Government to identify for them land in Hoima Industrial Park. We want them to come and they be together. As government, our focus is in four sectors that is agribusiness, manufacturing, ICT and services,” she said.
Mr Sanjay Thakkar, the executive chairman of Lohana International Business Forum, said they had organised more than 750 investors from the Lohana community most of whom have confirmed attendance and they will be here for the first time.
At least, he said, majority of those who have confirmed attendance are interested in inveting in Uganda.
To illustrate how serious they are, he said, the Lohana community has invested in a $11m project along Lugogo bypass and they are also building the Lohana Arcade in down town Kampala.
“We have so many people coming to Uganda for the first time and 70 percent of the investors will like to invest in Uganda. We have a $11m project on Lugogo by pass and we are building the Lohana Arcade,” he said.
Mr Vinay Dawda, a member of the community, said Lohana is a strong business community originating from Western India with a population of 2.5million.
The Madhvani and Metha groups, he said, trace their ancestry to this community.
Ms Anite said government was committed on working with Indians, which has been demonstrated through the return of more than 90 percent of assets of Indians that had been seized during the 70s by the Idd Amin-led government.