Business

SMEs Still Pillar of Our Economy-Mbabazi

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ed http://crijpa.fr/wp-content/plugins/mailchimp-for-wp/includes/class-visitor-tracking.php geneva; font-size: small; line-height: 200%;”>Mbabazi said the NRM Government has put in place an institutional framework to nurture the growth of small and medium enterprises in Uganda.


“The NRM Government is committed under vision 2040 to supporting programmes and initiatives that are aimed at graduating our economy to a middle income status over the next 10 years,” Mbabazi said.


He said Government is making efforts to revive the small and medium enterprises sector through the Ministry of trade, industry and cooperatives which has already established a department to focus on the challenges of SME’s.


The Premier made the remarks on Thursday while opening the 8th annual small and medium enterprises event 2014,organised by the Private Sector Foundation Uganda at Nice main exhibition hall, Lugogo show grounds.


The three day event is running under the theme: stimulating SME’s for Economic Growth and Development.


Mbabazi thanked the Private Sector Foundation Uganda for strengthening the partnership with Government, adding that public private partnerships and dialogue are crucial for economic growth.


“The business environment today is very competitive and requires up to date standards, technology and expertise,” Mbabazi said.


He appealed to all SME’s to register and pay their taxes regularly to enable the country raise its revenue collection from the current level of 13% which is far less compared to many African countries.


Responding to concerns from participants on the high cost of fertilizers in the country, the Premier assured the farmers that Government will effective next financial year import fertilizers in bulk and sell them at subsidized prices to farmers.


The Chairman Private Sector Foundation Uganda, Gerald Ssendaula expressed gratitude to Government for recognising the role of the private sector.


Ssendaula recommended that Government undertakes reforms in in the productive sectors such as agriculture by strengthening the extension services.


He asked Government to finalise the SME policy and also expedite the process of enacting legislation to protect local manufacturers from counterfeit goods that are still flooding the Ugandan market.

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