Latest private sector development strategy calls for business formalization
The overall goal of the Strategy is to "increase competitiveness of the Private Sector and enhance its contribution to economic development"
The Minister of State for Planning and Acting Finance Minister Amos Lugoloobi has Thursday launched the Second National Strategy for Private Sector Development (NSPSD II 2022/23 -2026/27) during the 13th National Competitiveness Forum at Golf Course Hotel, Kampala.
While arising from the midterm review of NDP III, Amos Lugoloobi noted that government plans to sustainably lower the cost of doing business, by increasing access to affordable long term capital, promoting local content in public programs, strengthening enabling environment & enforcement of standards.
“I take this opportunity to call for the Private Sector to embrace Business Formalization, a faster transition from trading to manufacturing & increase the participation in import substitution & export promotion efforts,” he said.
According to the ministry, the National Strategy for Private Sector Development (NSPSD) FY 2017/18-2021/22 sets out a comprehensive scheme for coordinating the growth and development of the Private Sector in Uganda.
The overall goal of the Strategy is to “increase competitiveness of the Private Sector and enhance its contribution to economic development”
