Uganda Attracts Investments In Its New Free Zone

Lake Victoria Free Trade Zone in Uganda offers a perfect business venue for capturing markets in East Africa

B usiness people interested in doing business in a tax-free environment in East Africa can now operate from the Lake Victoria Free Trade Zone in Uganda. Situated on 200 square miles of land, the free trade zone became operational in 2006 and aims to emerge as a business hub in East Africa.

Gertrude Njuba, the chairperson of the zone’s governing council said that the zone would give business people a chance to be pioneers in a free trade zone.

The Lake Victoria Free Trade Zone, also refered to as the ‘Sseesamirembe City’, is believed to be the first and largest special economic zone green municipality in Africa.

“Uganda cannot become a large manufacturer because it is a landlocked country but Ugandans are good traders and the free zone can become a business hub of the region,” said Gertrude Njuba.

The zone’s biggest project so far, is the solar powered airport, which will cost about US$40million for the first phase. The Ssesamirembe International Solar Airport (SISA) would be the first solar powered airport in Africa, with its roof specially designed to be covered with photovoltaic (solar panels) to create up to 3 mega watts (MW) of energy.

 

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