Manufacturing News

Lack of Ready Market, Counterfeits Affecting Manufacturing Sector- UMA

Members of the Uganda Manufacturers Association have committed to the creation of more jobs and enhancement of business recovery by supporting the business environment of manufacturers to improve production and expand markets.

This was revealed on Thursday at the Association’s Annual General Meeting in which members reviewed its performance and set new goals for the year 2023/24.

In the meeting, members received reports about the performance of the Association as they raised many challenges affecting their operations which the leadership promised to address.

UMA Chairman, Deo Kayemba, expressed the need for manufacturers to create more jobs for people to have purchasing power for the manufactured products.

He noted that the biggest problem affecting the manufacturing sector in Uganda is the lack of a ready market and a lot of counterfeits on the market.

UMA Chairman, Deo Kayemba speaks to members of UMA at the 2022 AGM.

UMA asked stakeholders to fast-track the passing of the bill against fake products into law to save Ugandans from being cheated by unscrupulous individuals.

They noted that once the law is passed many Industries will be revived automatically.

Kayemba noted that they are currently helping members to reduce the cost of doing business in Uganda through lobbying for cheap interest rates from the Uganda Development Bank (UDB) and reducing the cost of power, among others.

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 favourably and produce to bigger markets at reduced costs of doing business.

Post Views: 31

Source link