The Minister of Finance Planning and Economic Development, Matia Kasaijja, has said that government is set to establish industrial skills development center at Namanve Industrial Park in a bid to boost industrial growth in the country.
The mister disclosed the new development while reading the Shs40.4 trillion national budget for 2019/2020 financial year at Serena International Conference Centre in Kampala. The 2019/2020 financial year, government allocated Shs428.68 billion for electrification of national parks, development of supportive export infrastructure in export processing zones and science technology and innovation.
Kasaija said the facility will provide skills development, innovation, and knowledge transfer and address technology gaps and boost value addition.
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“They will reduce the minimum investment threshold that allows developers of free zones and industrial parks to eligible for tax incentives from US$ 100 million to US$50 million,” he said.
He said government would reform technical and vocational training to provide skills required on job market. He also reechoed on availing an additional Shs10 billion to the newly commission Soroti fruit factory to purchase all required law materials for its products to hit market.
Among the efforts to boost the industrial growth, the government has also pledged to support applied research, innovation and industrial development at the presidential initiative on banana development, the presidential initiative on science and technology and the Kiira electric project
The minister noted that preparatory work to establish regional science and technology parks, municipal innovation hubs, value addition and technology transfer centers, material science programme and petrochemical industry will be commenced.
Currently, industrial parks of Namanve, Kapeeka, Luzira and Bweyogerere are operational. However the development of Mbarara, Soroti, Iganga, Jinja and Mbale industrial parks are on course. The minister said parks will be developed by providing basic infrastructure such as road, electricity, and water and information technology.
Recently, President Yoweri Museveni commissioned a number of factories such as; Soroti Fruit Factory among other factories in Jinja, Buikwe. Museveni said development of industries would usher the country into middle status income and reduce on the levels of unemployment among the youth.
