President Yoweri Museveni has said the Ugandan government will continue to create a conducive environment and provide incentives in order to boost the country’s industrialization.
The President, in a speech read for him by Prime Minister Robinah Nabbanja at the close of Mbale Industrial Park Trade Show and Bazaar said in addition to various benefits like tax and non-tax incentives, the government will improve access to affordable credit, build infrastructure like roads, electricity, ICT, and water systems, as well as conducive policies to smooth investment processes.
President Museveni said the remarkable growth of Mbale Industrial Park demonstrates the success of government policy that promotes import substitution, export promotion, and job creation, adding that Uganda has great potential for robust industrial development and economic growth.
He said he was pleased that Mbale Industrial Park, which started in 2018 and had disruptions like the Covid-19 pandemic, now has 51 factories (and counting) and employs over 6,000 young Ugandans.
The President said industrial parks are instrumental in value addition to local raw materials, import substation, export promotion, and creating jobs.
The President urged exiting investors and potential ones to work closely with the Uganda Investment Authority (www.ugandainvest.go.ug , www.ebiz.go.ug , [email protected]) in order to take advantage of various investment opportunities Uganda provides.
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