Kampala, 5th August 2019.
The Uganda Free Zones Authority (UFZA) has issued a Developer’s licence to M/s Kimsam Investments Ltd, located at Kyagwe, Bukaya, Buikwe District.
The Free Port Zone is projected to invest about US$500m in shipment, transhipment, manufacturing and processing within the Free Port Zone.
The main activities that will take place in the Free Port Zone are; Agro-processing, manufacturing: maritime boat building & assembly, services: cargo terminal and services: maritime training institute. It is anticipated that these activities will create about 1,000 direct jobs which will lead to development of the economy through the backward and forward linkages.
The issuance of this Developer’s Licence brings the number of Free Zones licensees to a total of 21 across the country. The establishment of Free Zones has attracted benefits to the economy and respective communities in terms of job creation, infrastructure development, skills and technology transfer, and increased foreign exchange earnings.
UFZA is mandated to develop, manage, market, maintain, supervise and control Free Zones in Uganda. The Government’s main Policy objective of establishing Free Zones is to promote investment in the manufacturing and processing sector in order to boost Uganda’s exports.