Government has approved the budget framework for the financial year 2020/2021 with major focus on sustainable industrialization for inclusive growth, employment and wealth creation.
Ahead of May 2020 when The NDP III series of plans aimed to implement the Uganda Vision 2040 aspirations will finally kick, government has bench marked Industrialization to achieve this goal.
In a cabinet sitting at State House Entebbe, the budget framework for the next fiscal year 2020/2021 was approved.
With industrialization in Uganda currently at the planning framework the national planning authority will be bench mark on three major indicators to actualize this target.
Economist Ramathan Ggobi says some of the targets are overly ambitious and others within reach.
According to NPA, by 2040 industry’s should be able to contribute 31% to the GDP, employ 26% Ugandans in industry and 50% of Uganda’s exports manufactured in houses.
Ggobi whose recent report on industrialization highlighted a gap in governments ability to bring these plans to life.
He’s not alone. A 2008 report by Oxford policy firm discovered that the gap in top leadership could hinder Uganda's industrialization plans.
The industrialization plan will lay major emphasis on areas Agro Industry, light manufacturing and minerals.
