NRM to promote export of locally manufactured goods 

Posted: 2020-11-04T12:31:11Z
NRM to promote export of locally manufactured goods 

The National Resistance Movement, NRM party has promised to work with traders so as to turn them into exporters as opposed to importers by encouraging them to set up distribution units in other countries in order to export Ugandan-made goods. 

This is one of the promises contained in the NRM party manifesto 2021-2026 which was launched by President Yoweri Museveni on Monday afternoon at Speke Resort Munyonyo.

The party says that with their knowledge in international trade, Ugandan traders are best suited to promote Ugandan goods in other markets in Africa and elsewhere.

NRM also says it will continue to advance the Buy Uganda Build Uganda (BUBU) policy in order to grow local manufacturing as opposed to importation of foreign products.
Also, capitalization of the Uganda Development Bank will be increased to enable entrepreneurs who engage in the service sectors, ICT, industries and commercial agriculture to access low-interest loans.

The party brags about the growth of the Tourism industry which is Uganda’s leading foreign exchange earner with a contribution of USD 1.6b USD (UGX. 5.8 tr) equivalent to 7.7% of GDP and contributing 6.7% of the total national employed in Tourism and Travel industry as of 2018.

Number of tourist arrivals increased by 7.4% from 1.402 million in 2017 to 1.505 million in 2018. Forex earnings grew by 10.1% from USD 1.45Bn in 2017 to over USD 1.6Bn in 2018.