Sh29b set for domestic investors
Oct 07, 2004
THE Government has set up a technical committee to draw up criteria which will be used to allocate the sh29b passed this financial year for local
David Muwanga
THE Government has set up a technical committee to draw up criteria which will be used to allocate the sh29b passed this financial year for local entrepreneurs who plan to start industries, an official from the President’s office, has said.
According to the proposed criteria, a local entrepreneur who wants the funds must invest in a project which eradicates poverty and uses local raw materials.
“The project must aim at creating employment and increasing incomes of the poor. You cannot get rid of poverty without creating wealth,†Joan Kakwenzire, the presidential adviser on poverty eradication, also a member of the committee, said.
Kakwenzire said most of companies participating in this year’s trade fair are foreign-based.
“Because we are not adding value to our products, we are giving market to imported goods. Poverty will stay as long as we don’t create wealth,†she said.
Kakwenzire said good quality products are needed to create wealth.
THE Government has set up a technical committee to draw up criteria which will be used to allocate the sh29b passed this financial year for local entrepreneurs who plan to start industries, an official from the President’s office, has said.
According to the proposed criteria, a local entrepreneur who wants the funds must invest in a project which eradicates poverty and uses local raw materials.
“The project must aim at creating employment and increasing incomes of the poor. You cannot get rid of poverty without creating wealth,†Joan Kakwenzire, the presidential adviser on poverty eradication, also a member of the committee, said.
Kakwenzire said most of companies participating in this year’s trade fair are foreign-based.
“Because we are not adding value to our products, we are giving market to imported goods. Poverty will stay as long as we don’t create wealth,†she said.
Kakwenzire said good quality products are needed to create wealth.