VIDEO: President Museveni yet to sign minimum wage bill, worried might scare away investors

President Museveni has expressed reservations about the recently passed 2015 Minimum wage, saying there are other priority areas to look at first.

The president made the remark while visiting numerous industries in Mukono district where investors detailed the challenges they face in in Uganda.

President Museveni’ said the minimum wage cannot be signed into law before the country overcomes urgent demands on the road to industrialization.

https://www.youtube.com/watch?v=7jFYUaavymE

He said that a minimum wage law might scare away investors because of the high labour costs they would incur at start-up.

He argued that Uganda as a country needs to first achieve a reduction in electricity prices, work on the high interest loans that are currently offered by commercial banks.

President Museveni believes that passing the minimum wage into law will further burden investors.

On his visit in the factories, investors informed the President that they are yet to enjoy the benefits of the East African community as they still subject them to the 10% import tax.

Museveni promised to engage other member states on the issues.

The president was in Mukono to offically open a Ugandan owned mattress factory on top 7 factories he visited including the one making motorcycle tyres and oil.