KAMPALA: The Government of Uganda has given out 5 acres of land to Prof. Patrick Ogwang the developer of Covidex herbal medicine, a covid-19 supporting treatment concoction to enable the mass production of the drug.
The National Drug Authority (NDA) last month approved the use of Covidex as a treatment for viral infections including covid-19 after the drug had proved substantive in fighting against the deadly virus.
In a big to support local investment, Hon. Evelyn Anite, the State Minister for Investment and Privatisation has today awarded an investment license to Prof. Ogwang at the Uganda Investment Authority (UIA) offices after the professor had met all the necessary requirements.
“He has brought in all his applications and followed the guidelines needed, what is remaining is to hand over the 5 acres of land in Soroti Industrial Park to him, the government is in full support for this invention,” Minister Anite said while giving him the license.
“As evidence of our commitment to supporting the pathogenic economy and to expediting the process of issuing investment licenses in less than 48 hours as per presidential directive, Prof Ogwang received his license in one hour, he arrived at 9 am, lodged his application, and was issued with the license at 10 am,” she noted.
Speaking after getting the license, Prof Ogwang said the construction of the factory will commence soon when everything is settled.
“We are ready; we have some small resources and still mobilizing more and we are hopeful that once given the said land, we shall start construction,” he said.
Anite told reporters that the government will continue supporting Prof Ogwang through the innovation fund.
“I want to sound a warning of those individuals who are wasting Professor’s time by suing him, let them stop this joke immediately. The government will continue supporting the professor; morally, financially, and legally,” he said.
Speaking to Journalists, Robert Mukiza, the Director-General of UIA said that UIA is committed to issuing investment licenses to both local and international investors within 48 hours.
“This is done through; offering advisory support to would-be investors in the application process, ensuring that our helplines are active 24 hours, removing the requirements for all applications to be in English, and issuing preliminary licenses as documentation is being processed,” he said.
Morisson Rwakakamba, the Chairman of UIA said that UIA will prioritize channeling its investment support to local scientists and Innovators that are active in the pathogenic economy.
“As a developing country, Uganda stands to benefit from investment in the nascent sector. The covid-19 pandemic has underscored the need of homegrown solutions to such pandemics,” he said adding,
“Two US biggest pharmaceutical firms for example charge not less than $30 each person for two doses of vaccines and governments have order for more than 780 million doses since the outbreak of the pandemic and that’s why Pfizer expects to earn more than $15Bn in 2021 alone,” he added.