Uganda Investment Authority (UIA) has offered an investment license, within 30 minutes, for Guangzhou Wondfo Biotech Co. Ltd., world leader in point of care diagnostic testing.
The company, one of the world’s biggest and fastest growing manufacturers of medical diagnostic products and reagents, plans to set up in Uganda to manufacture point of care products.
Speaking at the investment license handover ceremony, UIA Director General, Robert Mukiza, said the authority is keen on attracting more investments in the pathogenic economy and intends to develop an industrial park solely for pathogenic industry manufacturers.
Mukiza said UIA is laser-focused on expediting the process of acquiring investment licenses in order to speed up the setup of critical investment projects.
Founded in 1992, the publicly listed company, since 2015, specializes in research and development, manufacture and sales of rapid diagnostic reagents and related equipment. It employs more than 1,100 employees in China.
In the fight against Covid-19, the company has successfully developed multiple diagnostic products to efficiently detect the virus.
Guangzhou Wondfo Biotech Co. Ltd. becomes the second pathogenic industry investment project that UIA has licensed in one month, the other being Jena Herbals Uganda Ltd, the manufacturers of Covidex, a supportive drug in the treatment of COVID-19.
