Ministry of Trade, Industry and Cooperatives (MTIC) will provide more opportunities for small scale enterprises thru Micro Small Medium Enterprises (MSME) to achieve the 2040 middle income status.
During the handover ceremony at Farmers’ House, Minister MTIC, Amelia Kyambadde communicated to Ministry officials that the ministry under the MSME plan to educate small business owners on what kind of businesses is appropriate to grow and also contribute to the development of the Uganda.
“Infant business owners ought to look at manufacturing and small scale industries because they are more durable.”
With her reappointment to office, Kyambadde hopes to ensure full utilisation of cooperatives, ensure export departments are effective, value addition in indigenous business communities between both traders and industrialists, and modify regulations at border points to facilitate trade. With over 50 or 100 cooperatives put in place, traders will be able to export, earn dollars through exportation
However shopping arcades and malls that lucratively charge rent in dollars do a disservice to traders who are operating businesses; we will push for the enactment of the competition and consumer protection bill to protect traders against exploitative motives, she adds.
Kyambadde handed over to new ministers; Ngobi Ggume as the Minister of State for Cooperatives and Wereke Micheal as the Minister of State for Trade at the Ministry premises.
Ggume remarked, “It’s our responsibility to revive cooperatives that can prosper the current economic situation; encourage production in a cooperative manner especially at management level through transparency and accountability.”
This term 2016-2021 has presented an impetus to work hard so that we can achieve the middle income status in 2040.
The ministry plans to closely work with councils and boards for efficient performance, monitor and supervise industrial subsectors like sugar, tobacco, launch the operationalization of MSME directorate, revive and develop cooperatives especially capacity building and close monitoring and supervision.
Also promote value addition, support local investors, implement border markets program, enhance horizontal linkages, increase capacity through regional programs for District Commission Officers (DCO), expeditious completion of bills, policies especially Uganda Export Strategy enforcement, actively and constructively engage with COMESA, EAC and Tripartite FTA.
Amidst challenges of mobilising funds for the construction of the Ministry’s home due to the limited office space for the incoming directorate of MSMEs and low funding that constrains coordination of sector programs specifically the sector working groups, monitoring and evaluation activities.