The State Minister for Finance in charge of Privatisation and Investment, Evelyn Anite, has renewed calls for public support toward foreign investors, as government intensifies efforts to drive Uganda toward a $500 billion economy.
Speaking during a meeting with a delegation of Chinese investors led by Paul Zhang, Anite framed large-scale private investment as central to Uganda’s long-term transformation agenda, though questions remain about how such ambitions will translate into broad-based benefits.
“Our vision is not just to dream of a $500 billion economy, but to turn this dream into reality. We are focusing on practical investments that will transform our economy and create opportunities for Ugandans,” she said.
The minister disclosed that, with the backing of President Yoweri Kaguta Museveni, government has allocated more than 1,200 acres of land in Lusenke for a new industrial zone to be developed under Zhang’s leadership.
The proposed project would mark Zhang’s third industrial park in Uganda, following earlier ventures in Mbarara and Mbale, including the Tian Tang Industrial Park. Officials credit the investor with generating over 25,000 jobs through his existing operations.
Yet beyond the numbers, the expansion signals Uganda’s continued reliance on foreign-led industrialisation to drive growth, a strategy that has drawn both praise and caution from policy observers.
“We are not dealing with a new investor. This is someone who has demonstrated capacity and commitment to job creation,” Anite said, describing Zhang as a trusted partner in Uganda’s industrial journey.
According to the minister, the proposed Kayunga project is envisioned as an industrial city rather than a conventional park, with the potential to create up to 50,000 jobs and host investments in solar energy, chemical manufacturing and real estate.
Anite also highlighted Zhang’s role in mobilising investors independently, noting that such efforts ease pressure on government financing.
“He travels at his own cost to attract investors with significant capital to Uganda, not only to grow their businesses but also to create jobs,” she said.
However, the scale of the proposed development raises broader questions about infrastructure readiness, land use, and how local communities will be integrated into the industrialisation process.
Zhang, for his part, argued that expanding industrial parks beyond Kampala could help decongest the capital and spread economic opportunities more evenly.
“Near Kampala, there is only one major industrial park in Namanve, and it is not enough. If we build more, like in Kayunga, people will work closer to where they live,” he said.
He described modern industrial parks as integrated hubs designed to function as self-contained urban centres, complete with social services such as schools, hospitals and shopping facilities.
Also present was Lu Wei, deputy general manager of Shenzhen Mingyang Technology Company, who indicated that the firm is exploring opportunities in Uganda, particularly in battery storage solutions to support industrial energy needs.
The Kayunga project is expected to anchor the next phase of Uganda’s industrial push. Still, as government leans further into investor-driven growth, the challenge will be ensuring that the benefits—jobs, skills transfer and value addition—are widely felt across the economy.
