A businesswoman sells fruits. Uganda is pushing for value addition of agricultural produce as it seeks to reduce importation of processed products. PHOTO | FILE | NMG
Uganda’s 10-year industrial policy involves pushing value addition of agricultural produce as it seeks to reduce importation of processed products.
The value addition will target agro-based industries that process fruits, coffee, cotton, textiles and apparels, tea, cassava, grains, oil seeds, sugar cane, bananas, diary, leather and leather products. Other areas are extractive-based manufacturing industries processing iron and steel, oil and gas salt, cement, gold and fertilisers.
According to the Minister of Trade, Industry and Co-operatives Amelia Kyambadde, the policy approved by the Cabinet on December 15, takes into account the emerging issues within the economy like increased skilled manpower and the coronavirus pandemic among others.
The policy’s objective is to increase the exports of processed or manufactured products, increase employment in the industrial sector and adopt environmentally sustainable technologies by manufacturers in the wake of climate change.
“We envision that with effective implementation of the policy, the country will benefit from increased jobs, increased foreign exchange earnings and increased contribution to the country’s GDP. The government will then review it in 2030,” Ms Kyambadde said.
Uganda’s industrial sector has seen exponential growth with the number of manufacturing industries increasing from 81 to over 5,200 while the sector’s contribution to the GDP rose from 9.6 per cent to 27.1 per cent within 36 years.
The policy also intends to give an edge to knowledge intensive industries like pharmaceuticals, automobiles, electronics and electronic products assembling.
Uganda has in the past 15 years constructed of massive infrastructure projects to attract foreign investors and reduce the cost of doing business.
No comments :
Post a Comment