President Museveni yesterday 07th May 2019, commissioned eight factories in Jinja and Buikwe districts and also and commissioned the MMP Industrial Park, run by investor Magan Patel.
The factories commissioned are expected to create over 5,000 direct and indirect jobs and when the park becomes fully operational, it will employ up to 12,000 people. The factories will be producing a variety of products which include aluminum, textiles, batteries, steel and ethanol.
The president remarked that, the formula for job creation is through the private sector. As government, they have ensured peace and stability, provided infrastructure like roads and electricity and skilled the human resource adding that they now must fight corruption that frustrates investor.
He emphasized that workers demand for higher wages should correspond with the profits of the company for mutual benefits of both parties (employers& employees). “The call that workers in the factories be paid higher wages must be scientific. Wages should be tied to profitability otherwise you could run down a factory by insisting on high wages”. He remarked.
The president also promised the investors tax incentives. “To the investors, they will get tax incentives just like we have done with others. We are not interested in direct tax. If you manufacture products here and employ our people, we can still get money through indirect taxes”. He added
He further revealed that the investors’ request for land to set up a pharmaceutical factory will be granted and he is glad that they are setting up a facility to produce paper. Currently, Uganda spends $130m annually on importing paper.
Of recent the president has been commissioning factories countrywide a move which is helping to create employment and increasing the countries GDP.
