Government approves National Industrial Policy 2020

Cabinet has approved a new National Industrial Policy 2020, the minister for Trade, Industry and Cooperative, Amelia Kyambadde revealed on Tuesday.

The policy consolidates the achievements of the National Industrial Policy 2008 and gives new direction to the industrial sector for the next 10 years, taking into account the emerging issues in the economy.

While addressing the press on Tuesday at the Uganda Media Centre,Kyambadde said the implementation of the policy takes effect this financial year.

She said the industrial sector in Uganda has undergone extensive transformation over the years some of which include growth in the number of manufacturing industries from 81 in 1986 to over 5,200.

"Contribution of the industrial sector to gross domestic product (GDP) increased from 9.6% in 1986 to 27.1% in 2019," she said.

She said the establishment of one stop border posts is aimed at facilitating movement of goods.

Kyambadde stated the new policy focuses on the increased value addition to our abundant local raw materials, increased exports of manufactured products among others.

She said government is committed to industrialisation as a key driver of socio-economic transformation of Uganda.

"The policy strategy guides the relevant stakeholders towards its effective implementation. We envision that with effective implementation of the policy, the country will benefit from increased jobs, increased foreign exchange earnings and increased contribution to Uganda’s GDP,"she said.