Uganda Free Zones Authority Targets Foreign Direct Investment

Leila Baku
2 Min Read
UFZA aims to leverage Uganda's diplomatic presence to attract investors and showcase the benefits of investing in the country's free zones. This strategy is expected to create a more conducive environment for foreign investments, thereby boosting the country's economic growth and development.

he Uganda Free Zones Authority (UFZA) is implementing a new strategy to attract and increase Foreign Direct Investments (FDI). This initiative involves collaboration with Ugandan Missions abroad to promote export growth and import substitution.

In an effort to strengthen partnerships and enhance synergies in promoting Economic and Commercial Diplomacy, the Ministry of Foreign Affairs, through its Department of Regional and Economic Cooperation, partnered with UFZA for a one-day training session. This training aimed to deepen understanding of UFZA’s mandate and its role in achieving the Ministry’s key objectives.




The training covered various areas, including the potential of Free Zones in promoting tourism, trade, and attracting FDI. Participants also discussed value addition, mineral development, negotiation of trade agreements (such as free trade agreements and Bilateral Investment Treaties), market access, UFZA frameworks, and business opportunities.




The training session emphasized the importance of continued engagement and collaboration with the Ministry and Missions abroad to attract FDI by promoting export growth and import substitution. Ambassador Richard Kabonero, the Head of the Regional and Economic Cooperation Department, led the Ministry delegation. Rebecca Nalumu, the Director of Business Development and Investor Support at UFZA, led the Free Zones delegation.




The UFZA is a government agency tasked with establishing and managing free zones in Uganda. It operates under the Ministry of Finance, Planning, and Economic Development, with the primary goal of promoting export-oriented investment and job creation.

 

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Leila Baku Mohammed is the NS Media publisher for the West Nile Region.
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