The minister of state for Investment and Privatization, Evelyn Anite has said the government has withdrawn land that was allocated to five investors in the Namanve Industrial Park for failure to put it into use.
The investors were penalized after it was confirmed that they had held onto land for over ten years without any development contrary to set regulations.
According to Anite, 387 acres of land in several industrial parks will be taken back by the government after some of these investors failed to utilize the land.
Some of this land is located in Luzira, Masindi and Namanve industrial parks.
She warned investors who are not serious that any future repossession will come with heavy penalties.
UIA board chairman, Morrison Rwakakamba said they want to see more domestic investors and this can be an individual, a savings and credit cooperative, an investment club or a group of individuals among others.
