Uganda gives nod to Arua free zone
KAMPAL, UGANDA - The Uganda Free Zones Authority (UFZA) has issued their first developer’s license to Arua Special Economic Zone (ARUASEZ) to develop a $12.7m Economic Zone in West Nile.
“Uganda is known for being an importing country but with the coming of Arua SEZ on board to develop the Economic zone in the district, this will increase on the number of goods and services exported from Uganda. “The zone will not only support Uganda to enhance exports but also boost technology transfer and skills from developed countries that
contribute significantly to economic growth,” the Chairman Board UFZA Eng Dr. Fredrick Kiwanuka said. Kiwanuka said the free zones will accelerate export-led industrialization and boost employment opportunities in the region among other Economic value. The Arua Free zone is expect- ed to cost the developer around $12.7m with an additional cost of about $30.6 million from operators or Business enterprises that will undertake new investments with in the special Economic Zone. According to UZFA and Arua SEZ the zone is expected to create an estimated 2,000 direct and indirect jobs. Receiving the developer’s License Arua SEZ board chairman, Eng. Dr. Eric Adriko commended UFZA for considering local Inves- tors as their first priority when allocating Economic zones to investors. He assured the Authority that Arua SEZ will execute the development of the Zone according to the time-frame as stipulated in the development agreement between the Authority and Arua SEZ. “We are committed to develop the zone within the stipulated time and as Arua SEZ we have partnered with financial institutions to finance the project which is a key driver in transforming the whole of west Nile (Arua) both socially and economically,” he said. The development of Arua free Economic Zone is expected to last for a period of twelve months. Among the key developments, Arua SEZ will develop 4,5000 square meters of productive warehouse space on a site of 12 hectares including an Export Business Accelerator park for local SME,S to get on the international Value chain.