-- Korean investors from Livingstone Construction Limited have advanced plans for a multi-billion-dollar industrial park in Mukono District, following a meeting with the State House Investors' Protection Unit (SHIPU) on Monday.

The investors, led by Chairman Wanjoo Song and Director Joon Song, have secured 500 acres for the project, which will feature a power plant, coffee processing factory, and juice production facilities.

The proposed power plant alone is valued at more than $3 billion (about UGX 10 trillion) and is expected to boost electricity supply while lowering business costs.

Speaking during the meeting, SHIPU head Col. Edith Nakalema reaffirmed government support for credible investors, emphasizing their role in Uganda's socio-economic transformation.

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"By choosing to do business in our motherland, Uganda, you remain the heartbeat of our economy and the drivers of the prosperity that defines our future," she said.

Government agencies, including the Ministries of Finance, Energy, Trade, Agriculture, Works and Transport, the Uganda Investment Authority (UIA), NEMA, and the Uganda Free Zones and Export Promotion Authority, pledged coordinated support for the project.

Uganda currently hosts seven industrial parks and aims to expand them to create jobs and boost manufacturing.

Chairman Wanjoo Song welcomed the government assurances, highlighting Uganda's strategic location and access to regional markets through the African Union, East African Community, and COMESA.

He cited government incentives such as tax holidays as key advantages for investors.

Officials noted that increased power generation is critical to reducing production costs and improving competitiveness, with the Mukono project expected to contribute significantly.

Government reiterated its commitment to work closely with Livingstone Construction Limited to facilitate the establishment of the industrial park and associated facilities.