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Govt to cut cost of doing business

By Vision Reporter

Added 6th October 2007 03:00 AM

THE Government is to reduce the cost of doing business through interventions in the energy sector and fighting counterfeit products, the Prime Minister, Prof. Apolo Nsibambi, has promised.

THE Government is to reduce the cost of doing business through interventions in the energy sector and fighting counterfeit products, the Prime Minister, Prof. Apolo Nsibambi, has promised.

BY PETER KAUJJU

THE Government is to reduce the cost of doing business through interventions in the energy sector and fighting counterfeit products, the Prime Minister, Prof. Apolo Nsibambi, has promised.

While opening the 15th Uganda International Trade Fair yesterday, Nsibambi said manufacturing contributes a lot to the economy so the Government cannot afford to take the sector’s matters lightly.

“Growth in industrial output declined to 4.5% in 2005/06. This is not taken lightly by the Government. I wish to assure Uganda Manufacturers Association members that we are doing all that is within our means to solve the energy problem. The Government is also concerned about counterfeit goods that are increasingly flooding our markets.”

“The perpetrators of this scourge are not only robbing legitimate businesses, but also depriving the Government of the much- needed tax revenue,” Nsibambi said.

Over 820 exhibitors, both local and international, from 32 countries, are showcasing their products at Lugogo.

“I assure local and foreign businesses that the Government is committed to maintaining policies which will enhance trade and commerce.”

Uganda, like other countries in the region, has experienced an energy crisis that has forced some entities out of business.

Nsibambi said the entry of Rwanda and Burundi into the East African Community, which has a market of over 120 million people, provides an opportunity for the business community.

“The East African region now has a combined gross national product of $41b,” he said.

Govt to cut cost of doing business

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