Kampala, 27th November 2017
Uganda Free Zones Authority (UFZA) has signed a Memorandum of understanding (MOU) with Trademark East Africa (TMEA) on Monday 27th November 2017 at the Ministry of Finance Planning and Economic Development in Kampala.
The MoU will guide the implementation of the partnership between the two Organisations in establishment of the Investment, Trade and Logistics Hub in Jinja Industrial Park. The Logistics Hub in Jinja will boost economic growth, create employment and contribute towards sustainable and inclusive prosperity of the region by promoting the reduction of trade barriers and ensuring improved business competitiveness.
While presiding over the signing ceremony, Mr. Keith Muhakanizi, the Permanent Secretary and Secretary to the Treasury, said ‘The necessary infrastructure and other administrative incentives that encourage skills and technology transfer and local economic linkages should be administered more as they contribute to lowering the cost of doing business’. This he said, in reference to the expected non fiscal incentives that will result from the partnership between UFZA and TMEA.
The Executive Director of UFZA, Mr. Richard Jabo said, “UFZA will avail the land for the development of a Free Zone within Jinja Industrial Park and market the Free Zone to potential Operators both locally and internationally who will establish business therein to boost productivity.”
The Chief Executive Officer of TMEA, Mr. Frank Matsaert said, “TMEA has so far received funding commitments to a tune of USD 60 million for investing in Uganda, with prospects of increasing the resource envelope to over USD 100 million in the next five years some of which will be invested in the project in Jinja for development of the Investment, Trade and Logistics Hub/ Free Zone.”
The Uganda Free Zones Authority was set up to establish, develop, manage, market, maintain, supervise and control Free Zones in Uganda under the Free Zones Act of 2014. Free Zones are customs-controlled areas where goods introduced into the designated area are generally regarded so far as import duties are concerned as being outside the Customs Territory and include Export Processing Zones or Free Port Zones.
TMEA on the other hand is an aid-for-trade, non-profit, non-governmental organisation that was established with the aim of growing prosperity in East Africa through increased trade, funded by a range of development Agencies.
The Partnership will also be extended to a number of areas such as; development of an online portal to enable UFZA submit electronic information on the licensed Free Zones Developers and Operators, supporting the Authority’s Research agenda and supporting the establishment of Data Management Information System.
For more details, please contact:
Director (Operations and Business Development)