Uganda’s industrial sector has undergone significant transformation over the years, and the impact is being felt across the country.
According to Hon. Evelyn Anite, the State Minister of Finance for Investment and Privatisation, the sector has been instrumental in improving standards of living, creating jobs, and driving economic growth. “Today, our country boasts over 50,000 factories, employing 1.2 million Ugandans, surpassing the total number of jobs in the public service (490,000). Our sons and daughters are now manufacturing quality products that compete locally and beyond,” Anite said.
She added, “This is the future we envisioned, led by industry, driven by Ugandans. As we move toward implementing a national minimum wage, I’m curious to hear from you: What do you believe would be a fair and decent wage for our factory workers?” She encouraged all investors, current and prospective, to tap into the opportunities offered by the sector to be part of Uganda’s growth story.
Transforming Lives
The Minister noted that the growth of the industrial sector has had a positive impact on the lives of Ugandans. She pointed out that with more jobs available, people have increased disposable income, which has improved their standard of living.
The sector’s growth has also contributed to economic growth, as industries contribute to the country’s Gross Domestic Product (GDP).
Future Prospects
As Uganda continues to grow its industrial sector, the government is exploring ways to ensure that workers benefit from this growth. The implementation of a national minimum wage is one such initiative. Hon. Anite’s call for feedback on what constitutes a fair and decent wage for factory workers demonstrates the government’s commitment to protecting workers’ rights.
Opportunities for Investors
The Minister’s encouragement to investors to tap into the opportunities offered by the sector is a clear indication that Uganda’s industrial sector is open for business.
With its growing industrial base, Uganda presents a compelling investment opportunity for both local and foreign investors.
Uganda’s industrial sector has come a long way, and its impact on the economy and people’s lives is undeniable. As the sector continues to grow, it is expected to play a more significant role in driving economic growth, creating jobs, and improving standards of living.
With the government’s commitment to supporting the sector and protecting workers’ rights, Uganda’s industrial sector is poised for even greater success in the years to come.