New Chinese investor to create 500 jobs for Ugandans

Government has given five hectares of land in Jinja Industrial Park to a new Chinese investor identified as Zeng Rong Yao who is going to invest in two companies, one manufacturing shoes and the other ceramics.

Ms Evelyn Anite, the State Minister for Privatisation and Investment on March 13 revealed that the new investor will be able to create 500 jobs for Ugandans and he is willing to invest in about $10million amounting to Shs39 Billion.

“The investor came requesting for land to do his businesses and he said he was going to invest $10million in Uganda and he is going to create about 500 jobs for Ugandans. Land is available and free of charge,” Ms Anite said in a telephone interview March 13.

She added: “But we are still processing documents and doing due diligence on him (the investor). He has to submit his performance bond, present evidence that he has the money and that he is going to invest it.”

The investor, Mr Yao, revealed his gratitude to the government of Uganda for the tireless efforts in facilitating investment and entrepreneurship in Uganda.

“I am amazed by the breadth and depth of your office operations which offer international experiences. Not only do you provide information on investment but also offer authoritative advice and guidance and give us a clear understanding of Uganda’s investment environment, your professionalism and efficiency are commendable,” Mr Yao said on March 13 while addressing journalists in Kampala.

He added: “By evidence of the prompt responses and the resolution of any conflicts or challenges faced by investors, instills confidence in investors in Uganda.”

President Museveni last year launched the Electronic Investor Protection Portal (EIPP) that is aimed at helping investors, both foreign and local, to report complaints about corruption, bribes and delays directly to the Office of the President.

The State House Investors Protection Unit, headed by Col Edith Nakalema, worked with the National Information Technology Authority (Nita) to develop the portal.

The portal enables the President to directly monitor how government agencies respond to complaints raised by investors.

Col Nakalema, while speaking to journalists on Wednesday, revealed that the new investor was amazed by the portal that is unique and hasn’t found it in any of the countries he has traveled in.

“Some of the complaints raised by investors include the delays to receive feedback from some of the authorities in government agencies and failure to deliver responses to the complaints raised, but with this portal that even has a live chat, investors can receive timely feedback and responses and report any complaints,” Col Nakalema said.

Col Nakalema also revealed that the portal has a provision for language translation so that investors who are not familiar with the English language can launch complaints using their own languages, which the system will automatically translate into English.

Corruption remains a significant hindrance to Uganda’s progress, manifesting through issues like bribes and delays.

According to the Inspector General of Government, Uganda loses about Shs10 trillion to corruption conduits present in both private and public institutions every year.