MUSEVENI OPENS TRADE FAIR AT LUGOGO

“I have officially opened the 24th Uganda International Trade Fair at the UMA Showground, Lugogo.

To support manufacturing, electricity tariffs will come down from the current US 11 cents to US 5 cents.

I have already negotiated with stakeholders and I can assure you if are a manufacturer, you are going to pay US 5 cents.

The cost will come down from US 11 cents to US 7 cents and eventually US 5 cents in order to enable the business people lower the cost of doing business.

I have also already negotiated with the Finance ministry to put money in Uganda Development Bank (UDB) to give manufacturers at an interest rate of 12%.

Government is going to institute Export Credit guarantee to help exporters who sell products in risky markets.

I also urge government departments to purchase from local manufacturers instead of importing products from abroad.”