Museveni commissions new factories in Namanve industrial park

BY: Eyalama In Business, News On

President Museveni commissioned four factories including Crown Packaging Industries Limited that manufactures bottle tops, Picfare Industries Limited and Tian Tang group with subsidiaries including Tian Tang Mixing plant, Yaya children’s products company limited and Mi-Tech Uganda Limited as well as Kampala Nile Resort hotel .

According to Museveni, manufacturers in the industrial park are assured of cheap electricity at a cost of only five cents per kilowatt hour since power will now move directly from the dam to the industrial park without middlemen.

The Namanve industrial park measuring 2200 acres is slated to house 303 factories but currently, 71 of these are occupying the facility with many others yet to come.

Hope for manufacturers;

Uganda

Confirmed
123,066
+163
Deaths
3,143
+3
Recovered
95,995
Active
23,928
Last updated: September 25, 2021 - 5:29 pm (+00:00)

“I have told the Ministry of Finance that in future, all tax policies must be discussed with manufacturers first because they are at the frontline fighting for the independence of our country,” Museveni said on Wednesday as he officiated the opening of four factories in Namanve industrial park.

“It should not be the bureaucrats in the Ministry of Finance to work on the taxes.”

Kenya

Confirmed
248,392
+323
Deaths
5,096
+14
Recovered
239,730
Active
3,566
Last updated: September 25, 2021 - 5:29 pm (+00:00)
The president explained that it should be the manufacturers who are affected directly by the new tax policies to give a green light on the taxes, other than “bureaucrats” who sit in their offices to think for the people on the ground.

“On the issue of policies regarding manufacturing, the Ministry of Finance bureaucrats should always consult manufacturers. If they(manufacturers) say it is to affect them, we leave the tax. They should be the ones to lead us but not us imposing ourselves on them,” he said.

President Museveni tasked the State Minister for Finance in charge of Investment; Evelyn to take up the task of ensuring his directive is implemented.

Rwanda

Confirmed
96,570
Deaths
1,242
Recovered
45,452
Active
49,876
Last updated: September 25, 2021 - 5:29 pm (+00:00)

Anite welcomed the idea that she said will ensure a fair situation for both government and the manufacturers.

“I welcome the idea. We must discuss with them(manufacturers). The new guidance is spot on because we can sit down with them for a win-win situation. With tax incentives given to them, we will expect decent jobs and reduce on importation,” Anite said.

“Having this discussion will allow us to have value for tax incentives. The return in waiving taxes should be big. In the past, we have given tax incentives and not got what we deserve.”

President Museveni also muted the idea of having a primary and secondary school, health facility and housing estate in the industrial park at Namanve to ensure they provide services to the employees.

“When we started the industrial park, we were emphasizing factories and didn’t them to have services. Later alone, provided it is planned properly, it is logical to have some hotels in the industrial park because of the guests to the industrial park who don’t want to drive long distances,”Museveni said.

“There needs a housing estate nearby for workers, a primary and secondary school for children of the people who work here not to spend a lot of time moving to school. A housing estate will make it easier for workers to walk from home to the factory and back. In future, we should plan for this. It will make the thing efficient. We need an industrial park supported by these services.”

Add your comments:

Download Our News App Here

You may also read!

Bobi Wine is ideologically bankrupt and has nothing to offer – Gen Otafire

Bush war veteran and Minister of Internal Affairs Hon. Maj. Gen (Rtd.) Kahinda Otafiire has said that it is

Read More...

Minister Kasaija asks the public to Ignore rumors of seizing money in dormant accounts

Holders of bank or mobile money accounts whose cash balances may be transferred to the Bank of Uganda or

Read More...

President Museveni reopens churches as bars remain closed

President Museveni has allowed places of worship to reopen as government continues to ease Covid restrictions.Since the closure of

Read More...

Mobile Sliding Menu