LUGOGO -President Yoweri Kaguta Museveni has reiterated his commitment towards improving the country’s manufacturing sector as one of the means of reducing unemployment as well as increasing on Uganda’s revenue base.
“Uganda Development Bank (UDB) continues to play a vital role in providing long term affordable financing to key sectors such as Manufacturers, Agriculture and infrastructure. As government, we are committed to increase capitalization of UDB in order to expand its reach and enable more businesses to access lower cost loans that support industrial growth.” Stated Museveni in his message read by Prime Minister Robinah Nabanja at the official opening of 30th UMA trade fair at Lugogo on Friday.
Museveni also assured manufacturers not to get worried about Umeme’s exit from the country because government is well prepared to take over and offer power to everyone at a subsidized price.
“Ensure that there is quality standardization of products is because it’s a fundamental component of economic competitiveness. Provide assurance to consumers that products are safe reliable and consistent. Manufacturing, adhering to standard help to build brand reputation, reduce production inefficiency and open up new market both locally and internationally.”
Basing on the recent released National Population and housing census report indicating that 62 percent of households in Ugandan rely on Agriculture, the president empathized it that the government is committed to invest in Agriculture mechanization, irrigation, and access to high quality seeds and fertilizers to ensure that o farmers produce more food and raw materials.
“Uganda is endowed with abundant natural resources like minerals such as copper, gold and limestone which provides an opportunity for establishment of a primary industry base which promotes industrialization. Government is working to attract investment into the mining sector in order to promote refining and processing minerals domestically. Once this is done , we shall create a value chain that supports secondary industries that such as manufacturing and construction thus providing employment and revenue to government.”
Hon. Matia Kasaija, the Minister for Finance commended the Manufacturing sector for creating employment for a number of Ugandans and thus advised them to devise means of creating more employment opportunities for the graduates.
At this event , several exhibitors received accolades for their outstanding performance in the trade fair.
The event attracted Ministers, heads of government agencies, Ministries , departments , manufacturers and members of the general public.
This year’s trade fair is the 30th of its kind being organized by Uganda Manufacturer’s Association (UMA) an umbrella body of all manufacturers in the country.
It kicked off on Tuesday 2nd October 2024, running up to 10th October 2024.
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