Ggoobi assures investors of continued government support for industrialisation
Staunch Machinery Company was founded by Mohammed Khoder Hussein, who serves as the company's Chief Executive Officer and Honorary Consul of Uganda to Lebanon.
The Permanent Secretary and Secretary to the Treasury (PSST), Dr. Ramathan Ggoobi, has reaffirmed the government’s commitment to supporting industrialisation, private sector investment, and job creation as Uganda pursues its long-term economic transformation agenda.
Speaking during a visit to Staunch Machinery Company at the Kampala Industrial and Business Park in Namanve, Ggoobi said the government remains focused on creating an enabling environment for businesses to thrive under its Tenfold Growth Strategy, which seeks to expand Uganda’s economy to US$500 billion by 2040.
Accompanied by the Acting Director for Economic Affairs, Moses Kaggwa, and other officials from the Ministry of Finance, Ggoobi commended the company for contributing to Uganda’s manufacturing sector through the production of agricultural machinery, construction equipment, power generators, medical refrigeration systems, and modular office and accommodation units.
He noted that locally manufactured equipment, including tractors and other agricultural machinery, plays a critical role in advancing mechanised agriculture, supporting infrastructure development, and strengthening service delivery.
Ggoobi encouraged the company to expand its operations and urged it to continue attracting investors from Lebanon and other countries to tap into Uganda’s growing investment opportunities.
He said Uganda offers a conducive investment climate underpinned by political stability, sound macroeconomic management, and one of Africa’s fastest-growing economies, making it an attractive destination for investment.
“The economy is private sector-led, with liberalised markets that allow investors to freely conduct business, access foreign exchange, and repatriate profits without restrictions,” Ggoobi said.
The Treasury chief also highlighted the government’s tax and non-tax incentives aimed at promoting investment, while acknowledging concerns raised by the company regarding the implementation of some tax-related incentives.
Staunch Machinery Company was founded by Mohammed Khoder Hussein, who serves as the company’s Chief Executive Officer and Honorary Consul of Uganda to Lebanon.
Speaking during the visit, Mohammed said he has spent the past 15 years investing in Uganda and has successfully attracted several investors from Lebanon and other countries to establish businesses in the country.
He attributed their interest to Uganda’s favourable investment environment and expressed optimism about the country’s industrialisation prospects, calling for continued collaboration between government and the private sector to unlock more investment opportunities.
The visit forms part of the Ministry of Finance’s ongoing engagement with private sector players to assess investment challenges and strengthen partnerships aimed at driving industrialisation, value addition, and sustainable economic growth.
