UMA, UFZA sign MoU to boost export-oriented investment
The Uganda Manufacturers Association (UMA) and Uganda Free Zones Authority (UFZA) have signed a Memorandum of Understanding (MoU) to promote export-oriented investment and create more jobs in the country.
Speaking at the signing event held in Kampala, UMA Executive Director, Dr. Ezra Rubanda, said the plan is to tap into emerging regional demand for Ugandan products and to enhance competitiveness of local manufacturers through the establishment of Free Zones, facilitating exports and enabling our local industries to thrive in the regional market.
“Our industrial growth trajectory focuses on decentralization, moving industries from the central business area to rural areas. The establishment of Free Zones in major districts of the country will catalyze inclusive growth across Uganda, ensuring that economic benefits are distributed more widely,” he noted
Free zones are economic areas where goods and services can be traded at no tax or preferential customs duty rates.
On his part. Mr. Hez Kimoomi Alinda, the Uganda Free Zones Authority Executive Director said the partnership will leverage the strengths of both organizations to create a conducive environment for businesses to thrive, and contribute to national economic growth.
The partnership which officially kicks off today will enable Ugandan manufacturers to compete globally due to the tax and non-tax incentives.
