L – R: The Executive Director of PSFU, Mr Stephen Asiimwe, Chairperson Board of Directors PSFU, Mr Humphrey Nzeyi, the UFZA Chairman Board of Directors, Eng Peter Balimunsi, and the Executive Director of UFZA, Mr. Hez Kimoomi Alinda after signing the MoU at PSFU offices on 2nd October 2023
The Uganda Free Zones Authority (UFZA) and the Private Sector Foundation Uganda (PSFU) have entered into a strategic partnership by signing a Memorandum of Understanding (MoU) aimed at fostering collaboration and promoting export-oriented investment and job creation by the private sector in Uganda. The MoU was signed on 2nd October 2023 at the Private Sector Foundation Offices.
Uganda’s economy has grown substantially over the past decade, and the private sector has been expanding and increasingly contributing to job creation, and industrial and infrastructural development in Uganda. UFZA’s mandate includes developing customized industrial infrastructure and production facilities for export-led manufacturing and agro-industrial activities, which is complementary to the role of PSFU in the development of Uganda.
Speaking during the MoU signing, the Executive Director of UFZA, Mr Hez Kimoomi Alinda noted that H.E. The President had allocated 18 square miles of land in Nakaseke district to the Authority to establish a public Free Zone. “This will provide an opportunity for the private sector to invest, produce more cheaply, and become more competitive globally” he added.
In addition, the East African Community has adopted many other types of Free Zones that will benefit more sectors. The Special Economic Zones will include; Free Trade Zones; Industrial Parks; Agricultural Zones; Educational Zones; Regional headquarters zones; Science and Technology Zones; Business Incubation Facilities, Convention and Conference Zones; Livestock Zones; Export Processing Zones, and Free Port Zones, that also cut across the private sector.
The Chairman Board of Directors PSFU, Mr. Humphrey Nzeyi recognised Free Zones as a major tool for marketing Uganda as a preferred investment destination, especially during foreign trade and investment missions. “The collaboration shall support private sector investments in the production of competitive goods and services through the offering of tax incentives enabling these products and services to compete on the global market” he elaborated.
PSFU is Uganda’s Apex body for the private sector made up of over 320 Business Associations, Corporate Bodies, and the major Public Sector Agencies that support private sector growth. Since its founding in 1995, it has served as a focal point for private sector advocacy as well as capacity building and continues to sustain a positive dialogue with the Government on behalf of the private sector.