Uganda Free zones Authority has highlighted its role in driving the East African community and Uganda export led industrialization strategy through the establishment of free zones which are key economic development policy tools
In order to Increase and create opportunities for export oriented investment, Uganda Free zones Authority has emphasized its support of Uganda’s manufactured goods in order to access regional and global markets.
“As you know we are in a common market in East Africa. Common market means free movement of labor, capital, goods and services. And we have to be competitive enough in that area and we have to attract both international and local investment that are geared towards exports. We implement the public investments that are geared towards developing and customizing industrial infrastructure and production facilities” the executive director UFZA, Alinda Hez said.
The tax incentives by UFZA will boost Uganda’s contribution rates to global export and also lower the cost of production.
“The Government is decentralizing production for exports is that there is a backward demand leakage to what is produced locally here in the population. Once an area is gazetted we should be able to incentivize people who are entrepreneurs, business people who are producing opportunities for exports” Alinda added.
With common challenges like limited resources, lack of knowledge about free zones among others faced by potential developers across the country UFZA has elaborated its interventions made to promote investment.
The initiatives triggered by UFZA are aimed at creating an enabling environment for export oriented investments which will consequently increase total export earnings.
