Uganda Investment Authority (UIA) has launched a new initiative in which it will support traders with a sizeable capital base to transition into manufacturers.

The initiative, codenamed: “Transitioning Kikuubo Traders to Manufacturing” is part of government’s agenda to promote import substitution through working out a plan in which traders can, through a supported process, start manufacturing the goods they import.

Such traders, UIA says, will benefit from several incentives, among which include tax holidays, free industrial park land, and capital guarantees.

UIA Director General Robert Mukiza, said at a meeting between UIA, traders from Kikuubo, officials from Global Competitiveness Initiative, and the Presidential Advisory Committee on Exports and Industrial Development that they have already created a special desk under the Domestic Investment Division to guide on work plans, targets and timelines to ensure a faster transition of business people from trading to manufacturing.

“Domestic investors are crucial to Uganda’s industrialisation that is why we have a special mission to see more traders transition into manufacturing products that they import,” he said, noting that because of its greater multiplier effect, the plan will boost local production, value addition and create jobs for young people.

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