The construction of an industrial park at the lakeside town of Entebbe is in final stages.
The park, which is to be opened in July 2019, is a partnership between an Egyptian firm and the National Enterprise Corporation (NEC), the business wing of the Uganda People’s Defence Forces.
According to the Deputy Chief of Mission, Embassy of the Arab Republic of Egypt in Uganda, Haitham Mokhtar, the park will attract investments worth US$ 300 million from the Egyptian government.
Meeting the Speaker of Parliament, Rebecca Kadaga, on Thursday, 27 June 2019 in her boardroom, the envoy said his government has singled out Uganda as a priority country for industrial investment.
“We have a strategic relationship with Uganda. There are many fields of cooperation and a couple of ministers and business people in Egypt talk a lot about Uganda’s potential,” said Mokhatar.
Among many others, the park will boast of three factories that will manufacture electric metals, conductors and transformers.
Kadaga applauded the Egyptian government for committing resources to Uganda and that investing in the manufacturing sector is a prudent choice because of the immense manpower that is not engaged.
She encouraged the Egyptian government to invest in technical education for the underprivileged communities and also in water transport to tap into Uganda’s tourism potential.
Mokhtar extended an invitation to Kadaga to watch the African Cup of Nations finals in Egypt on 19 July 2019.
“I will use the time in Cairo to meet cruise operators and industrialists. I want them to consider investing in shipping in Uganda,” Kadaga said as she accepted the invitation.