UMA AGM 2022: Manufacturers reveal interventions to reduce the cost of doing business, market expansion.
Drake Nyamugabwa
During the Annual General Meeting for Uganda Manufacturers Association (UMA), members have players in the business community and other stakeholders to consider continued reduction of cost of production for manufacturers to enable business growth, profit maximization, market expansion among other benefits.
The Annual General Meeting of the Association was held in UMA Multipurpose Hall at UMA Showgrounds Kampala on Thursday 8th day of December 2022 aimed at adopting reports from the Chairman, Treasury, Workplan priorities among other issues.
The Chairman of UMA Deo Kayemba pictured above during an interview said that the key intervention to create more jobs, and enhance recovery is through supporting the business environment of manufacturers to improve production and expand markets.
He said if stakeholders can lower the cost of development credit, cost of electricity, and cater for multiple transport means among others, manufacturers will be able to compete favorably and produce to bigger markets at reduced costs of doing business.
“We need to reduce the cost of doing business. We are lobbying for lower development credit, especially from UDB, there is a need to cater for industrial parks, and reduce the cost of power and consider a multi-model transport system” he said.
He added that in the recovery programs, manufacturers are now looking at reducing the importation of raw materials to boost local production and improve the capacity of suppliers.
“Manufacturing is a turning point because previously we have been importing so many raw materials, but now with the government, we took a decision to look inwards. import substation measures are being implemented including increased import duty, telling government on tariffs, competition law, aligning regional markets” he said.
He added that “Tax policy people should evaluate the capacity of producers to have other tools other than import duty that we can use in an interchangeable manner”
