info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Photo from Internet
According to Amelia Kyambadde, the minister of trade industry and cooperative, the contribution to the GDP of Uganda will reach 30% by 2030, in comparasion to 18.5% by now.
Kyambadde said the new policy will enhance lowering costs of manufacturing, industrial financing as well as widening the industrial base and improve its(industrial sector) integration with agriculture.
During the policy validation workshop at Imperial Royale, Kyambadde noted that the government also intends to address the issue of the requisite skills for Ugandan industrial workers so that Ugandan made products can further compete in regional and global markets.
The yet to be launched industrial policy according to Kyambadde will also spur economic growth.
"The country has been developing in absence of clear industrial policy, with the economy currently almost reaching 6%. Once the policy is finally unveiled and well implemented the economy will grow further," Kyambadde said.
According to Kyambadde, there was approving of polices such as National Textile Policy (2008), National Sugar Policy (2010), National Standards and Quality Policy (2012), Accreditation Policy 2014, National Leather and Leather Products Policy 2015 among others.
According to the Policy final draft, the industrial sector grew by 6.2% in the financial year 2017/2018 from 3.4% in 2016/17 and 4.5% in 2015/16.The growth was attributed to good performance of the agro-processing as well as recovery in mining and quarrying.
