President Yoweri Museveni has renewed the contract of Uganda Investment Authority (UIA) Director General Robert Mukiza for a second five-year term— citing his success in stabilizing the agency and restoring investor confidence.
According to sources close to Finance Minister Matia Kasaija, the president praised Mukiza for bringing new energy to the authority, in a recent letter he sent to the minister.
The President noted that under Mukiza’s leadership, the agency has seen a marked improvement in its performance, which has played a vital role in making Uganda a competitive destination for both foreign and domestic capital.
“I am informed that he has brought stability and new energy at the authority during his term which has led to improvement in investors’ confidence in the country among others,” the President is quoted as saying.
The reappointment follows a series of high-profile achievements for the authority over the last several years.
Under Mukiza’s first term, Uganda was recognized as the best investment destination in Africa at the Annual Investment Meeting (AIM) Global Investment Awards in Abu Dhabi for three consecutive years from 2022 to 2024.
According to recent data from the Bank of Uganda, foreign direct investment inflows increased from $2.99 billion in the 2023-24 fiscal year to $3.5 billion. The authority also recently reported the licensing of 481 investment projects in the 2024-25 period, which are projected to create more than 53,000 direct jobs.
Museveni emphasized that the authority must now focus on the rapid development and operationalization of industrial and business parks across the country.
“The authority should focus on supporting development and operationalization of industrial and business parks across the country both by Government and private players. These parks are the key to promoting value addition, manufacturing and job creation,” Mr. Museveni added.
He added: “Priority should also be put on the strategic acquisition of land through UIA to support industrialization which is crucial for realizing the USD 500 billion economy in the next 10 years.”
He described these parks as the primary drivers for value addition, manufacturing and the creation of employment for Ugandans.
The president also underscored the importance of strategic land acquisition through the authority to support the government’s ambitious goal of growing the national economy to $500 billion within the next decade.
Mukiza’s leadership has been credited with streamlining investor services through the One-Stop Centre, which has reduced the time required to issue investment licenses from 48 hours to 24 hours.
The authority has also successfully mobilized over 57,000 acres of land for industrial development nationwide, with 10 industrial parks now operational.
The push for a $500 billion economy is part of the government’s Tenfold Growth Strategy, a blueprint designed to transform Uganda from a $50 billion economy to a half-trillion-dollar powerhouse by 2040.
According to reports from the Ministry of Finance, Planning and Economic Development, this ambitious leap relies on the ATMS pillars: agro-industrialization, tourism, mineral development, and science and technology innovation.
To reach this target, the government aims to sustain double-digit GDP growth, increase the tax-to-GDP ratio to 25 percent, and significantly boost foreign direct investment.
Dr. Ramathan Ggoobi, the permanent secretary of the Ministry of Finance, note that achieving this qualitative leap requires doubling the size of the economy every five years, with a heavy emphasis on high-tech manufacturing and the operationalization of industrial parks to move the population from peasant-based livelihoods to a modern, prosperous society.
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