Hon. Kyambadde hails Private Sector for championing economic development

 

 

 
The minister of trade and industry Hon. Amelia Kyambadde has commended the private sector for championing the growth and development of Micro, Small and Medium Enterprises (MSME) in Uganda.

The minister said government recognizes the importance of the key private sector players for their critical contribution towards realizing a successful business environment.

She said the Micro, Small and Medium Enterprises (MSME) sector plays a crucial role in the economic growth of Uganda with its GDP contribution standing at over 70%, and its employment and job creation rising to 90%.

The minister observed that Micro, Small and Medium Enterprises are a vehicle through which the rural poor and the jobless Ugandans can transform themselves into the middle and industrial class.

Minister Kyambadde singled out Private Sector Foundation, Enterprise Uganda, Uganda Manufacturers Association (UMA), Association of micro finance institutions of Uganda (AMFIU), Uganda Small Scale Industries Association (USSIA), Uganda Women Entrepreneurs Association Limited (UWEAL) and Uganda Farmers’ Federation for having been instrumental in promoting the agenda for socio-economic transformation for prosperity aimed towards attainment of vision 2040. She said the role played by Micro, Small and Medium Enterprises cannot be under estimated’.

The minister said government through the Ministry of Trade and Industry developed the Micro, Small and Medium Enterprises (MSME) Policy to address the bottle necks to MSMEs development and guide Private Sector as an important vehicle for knowledge exchange, technology and innovation development, research and investment transfer, to significantly contribute to sustainable and efficient value addition production. The Trade policy charges government with responsibility to create an enabling environment for the private sector to nurture and grow.

The Buy Uganda Build Uganda (BUBU) policy is premised on existing government policies that support and encourage the consumption of local produced goods and services.

The policy also gives prominence to local produced products and services and compels the government through its agencies to buy locally made products. The policy aims at enhancing consumption of locally produced goods and services through according them preference over the imported equivalents. The minister emphases that the policy is beneficial to the economy as it illustrate the income that can accrue to different sectors. It is anticipated that the policy will improve the local business environment. The policy is being promoted by the private sector Foundation Uganda and the Uganda Manufacturers Association.

The Executive Director Uganda Small Scale Industries Association (USSIA) MS Namwanje Veronica, said government should stop importing goods made by local industries but instead help improving on the standards of local products.

Hon. Kyambadde commended key players in the sector for having embraced the policy.

 

Chrisams

Chrisams

KAINGroup

USSIA guest book

© 2017 Uganda Small Scale Industries Association. All rights reserved.Disclaimer
Designed by KAINGroup Ltd.
Weather Forecast | Weather Maps | Weather Radar