The Ministry for Trade, Industry, and Cooperatives Achievements - NRM Manifesto Week 2024
The Ministry for Trade, Industry, and Cooperatives (Industry), through Hon. David Bahati has this week given a highlight on its developments in regards to implementing the commitments of the National Resistance Movement (NRM) Manifesto (2021–2026) during the NRM Manifesto Week, in kampala at the Office of the Prime Minister.
Despite challenges , many achievements have been registerd as below.
Industrial Development
Promotion of Value Addition
Support for SMEs
Programs to enhance the capacity and competitiveness of Small and Medium Enterprises (SMEs) have been launched, including training on modern production techniques and market access.
Enhancement of Trade Facilitation
Measures to streamline cross-border trade have been implemented, including improvements in trade infrastructure and policy frameworks.
The current Ongoing Initiatives include
Skilling and Employment
The government is working to address the shortage of skilled manpower in the industrial sector through the upgrade of training institutions and the development of curricula tailored to industry needs.
Infrastructure Development
The construction and upgrade of industrial infrastructure, including roads and power supply to industrial parks, are ongoing. These efforts are crucial for attracting investment and supporting industrial growth.
Policy and Regulatory Reforms
Efforts are underway to revise policies and reduce bureaucratic hurdles that hinder private sector growth. Tax incentives and a favorable business environment are being promoted.
Challenges Registered.
Limited Funding
Development budgets are often insufficient to fully realize planned projects.
High Cost of Capital
Access to affordable credit for private sector players remains a significant hurdle.
Infrastructure Gaps
Poor connectivity and limited utilities in some regions affect industrial growth.
Global Economic Shocks.
Also, the external factors like the COVID-19 pandemic and global market volatility have impacted progress.
The minister, however, stressed the ministry’s commitment to fulfilling the NRM Manifesto objectives by the end of the 2021–2026 term. Especially with the already achieved progress and others on track for completion, the ministry continues to play a critical role in Uganda’s economic transformation. Efforts to address challenges and accelerate progress will be crucial in ensuring the full realization of the manifesto's vision.
This progress underscores the NRM government’s dedication to industrialization, economic empowerment, and job creation as pillars of national development.
