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Chinese Investors Commend President Museveni for establishing the Electronic Investor Protection Portal (EIPP)

Investor Zeng Rong Yao, the CEO of Bisu Industries Limited takes a photo moment with Col. Edith Nakalema

KAMPALA, 14th March, 2024: Chinese investors have lauded H.E. Gen (Rtd) Yoweri Museveni, the President of the Republic of Uganda for facilitating and allowing the establishment of Electronic Investor Protection Portal (EIPP).

EIPP, an initiative of State House Investors Protection Unit (SHIPU) headed by Col. Edith Nakalema, was launched by President Yoweri Museveni on December 13, 2023.

EIPP is an online reporting portal (protection.statehouseinvest.go.ug) where investors—local and foreign—can report their concerns and get solutions promptly.

“I would like to extend my heartfelt gratitude to Ugandan President [Yoweri Museveni] and the State House Investors Protection Unit’s (SHIPU) team for the tireless efforts in facilitating investment and entrepreneurship in Uganda. I am truly amazed by the breadth and depth of your [SHIPU] office's operations, which is a rarity based on my international investment experiences. Not only do you provide a wealth of investment information, but you also offer authoritative advice and guidance, giving us a clearer understanding of Uganda's investment environment. Your professionalism and efficiency are commendable, as evidenced by the prompt response and resolution of the questions I raised, instilling confidence in investing in Uganda,” said Zeng Rong Yao, the CEO of Bisu Industries Limited, China who intends to establish shoe making and ceramics factories in Uganda.

The Chinese investors who paid a courtesy call on Wednesday, 13 March at SHIPU offices located on Plot 51B along Lumumba Avenue, Nakasero-Kampala expressed gratitude to SHIPU head Col.Nakalema for facilitating them to get 5 acres of land for investment in Jinja Industrial park in just one day.

They are optimistic that such efforts in fostering a robust investment environment by the Ugandan government through SHIPU will attract more international investors to inject new vitality into Uganda's economic development.

“Through our interactions, I deeply sense Uganda government's commitment to investors. Your work reflects the government's openness and inclusiveness, providing investors with a stable, transparent, and friendly investment environment. Such a conducive investment climate will attract more international investors, injecting new vitality into Uganda's economic development,” Zeng added.

Zeng, who has factories in China, Malaysia, Indonesia & Philippines said based on his positive experience with Uganda's investment environment, he will not only invest and establish a factory here alone but also to strongly recommend Uganda as an investment destination to his vast network of friends in Southeast Asia and South America.

“I believe they will have better development opportunities here and grow together with Uganda. Your [SHIPU] friendliness and assistance make me feel at home, as if I have returned to my own family. I am confident that in such an investment environment, Uganda will attract many investors like me, collectively creating a more prosperous future. Thank you once again for your hard work and dedication,” he concluded, confessing that he has never seen such efficiency to investors in any country as exhibited by Col. Nakalema, SHIPU and Uganda at large.

Zeng was in the company of Li Yuan Bao and Zeng Na Yao, the founders of Claut Industries Ltd Uganda which already deals in shoe making, Dr. Hamza Ssebunya and lawyer Badru Kabuye. It is them who attracted Zeng to also come and invest in Uganda.

SCOPE OF INVESTMENT

According to Col.Nakalema, SHIPU was approached by this group of Chinese with plans to invest in Uganda but lacked land.

SHIPU quickly liaised with the ministry of lands, Uganda Investment Authority (UIA) through Executive Director Robert Mukiza, board chair Morrison Rwakakamba and Investments minister Evelyne Anite.

In just one day, meetings were held and 5 acres of land at Jinja Industrial park were found and allocated to Zeng Rong Yao, the CEO of Bisu Industries Limited, China. He intends to set up shoe making and ceramics factories with Final Investment Decision (FID) already made. The initial investment is USD10 million (Shs 40bn).  Over 1000 direct and indirect jobs are expected to be created once operations begin.

Col.Nakalema thanked the Chinese for acknowledging and complementing the uniqueness of the Electronic Investor Protection Portal (EIPP). She rallied Ugandans, especially the youth to borrow a leaf from the Chinese and always pick unique things about Uganda and market them to the rest of the world.

“The Chinese investors have found our EIPP very unique in guiding investors in Uganda and are ready to tell the world about it ... .I encourage young Ugandans to develop a mind of picking unique things about their country Uganda and use it for development,” she stressed.

She is optimistic that with concerted and collective efforts among government institutions and initiatives like the Electronic Investor Protection Portal (EIPP) to guide investors, Uganda will soon become a hub for Foreign Direct Investments in the region.

Nakalema said a law is in the offing to guide how local investors and traders can co-exist with foreigners.

“I extend my heartfelt gratitude to the Investments Minister Hon. Evelyn Anite and the management team at Uganda Investment Authority for their efficient work in awarding 5 acres in the Jinja Industrial Park to Bisu Industries Limited. This decision facilitates Mr. Zeng Rong Yao's commitment to establishing a $10M factory, signifying a significant boost to our economy. Additionally, I wish to recognize the founders/proprietors of Claut Industries Ltd, whose positive representation of Uganda has been instrumental in attracting Mr. Zeng to invest in our beloved country,” she said adding that “this achievement underscores the importance of collaboration and the collective effort of all stakeholders in the investment sector to attract Foreign Direct Investment.”