Manufacturers have been urged to focus on regional and continental markets while planning and setting up industries.
Speaking at the 3rd Annual Manufacturers Dialogue 2024 held in Kampala, UMA Executive Director, Ezra Muhumuza said industrialists do not have to plan for Uganda alone, but focus on the whole world.
“You must plan industries for the region and for the continent,” saying, the problem will not be how to grow these industries, but will be how to protect them as global competition will be too much for young industries.
In his remarks, Aga Sekalala, UMA Vice Chairperson, asked the government to deliberately drive unprecedented capital investment in primary industries like clinker, iron ore, leather, dairy, coffee, cotton textiles, apparel, and tea, among others.
He also asked the government to support the industrial sector in addressing low manufacturing capacity utilization, which stands at 54.4%.
Joseph Enyimu, Commissioner of Economic Development Policy and Research at the Ministry of Finance, Planning, and Economic Development, commended manufacturers for their substantial use of Uganda’s electricity (70%) marking a significant move towards heavy industry.
He also emphasized the government’s dedication to maintaining security and macroeconomic stability revealing ongoing efforts to explore export insurance to propel the manufacturing sector forward.
