Government vows to be strict on foreign investors that will be give public land in line with conditions for mortgaging government approved by the cabinet on Monday.
Under this arrangement, invesytors can only apply for public land but under the strict conditions including providing an investment license issued by Uganda Ivestment Authority, a business plan articulating detailed project ideas, documentary evidence of financial capacity to fully use land among others.
The lands minister Betty Kamya, tells journalists at the media center that should the investors land use, the land will be drawn from them. She explains that this move aims at ensuring that public land is put to better use and to minimize corruption in the process of land acquisition.
“The main purpose of this is to ensure that government land is protected from speculators and land grabbers and dealers and that the land is used in accordance with government priorities that the intended intention of attracting direct foreign investment is achieved.
Rather than getting an investor to come here to get government land and borrow money from a local financial institution that means that they haven’t brought any money into the country but utilizing facilities in this county. I am confident that we shall put our land to better use in a timely manner and try to root out corruption or to minimize it.”