COMMITTEE ON TRADE TOURISM AND INDUSTRY MEETS VARIOUS CORPORATIONS TO DISCUSS THE MINISTERIAL POLICY STATEMENT AND REACT TO THE PROPOSED BUDGET 16/07/2013 The Committee was chaired by Hon Namara Grace, meeting UDC and MTAC to take their reactions to the Budget and their plans for the coming financial year, although more Organizations were scheduled for the meeting. The write-up is below is for the Meeting UGANDA DEVELOPMENT CORPORATION (UDC) The delegation from UDC stated that it intends on developing a waste treatment park in the industrial park in Kampala. IT presented that the Luwero fruit factory is expected to be operational in 2015. UDC also expects to conclude the Kalangala infrastructure services activities soon, inspecting the investment phase to be completed. UDC has always been receiving Uganda Shillings 1.1 billion shillings and only in 2015/2016 will it get more amounting to 6.1 billion shillings. 1.1 billion shillings is allocated for the wage and operational costs. UDC plans on carrying out due diligence on the proposed Kiira Motors project, silos for food security and value addition for agricultural products. The Teso fruits project (Soroti) is also planned. UDC informed the Committee that it plans on improving the tourism sector by including hot air balloons, utilizing water bodies for cruises and are currently seeking funding for these projects. UDC also plans on discouraging the importation of pulp from India through rivaling it with the fruit factories it will set up in Uganda, citing companies such as Britannia which import from India. The Committee appreciated the need for due diligence and feasibility studies, some members citing the current state of Air Uganda and also asking about the feasibility of reviving Uganda Air. The Kalangala Ferry was also discussed, with UDC stating that the dividends would first of all be Uganda shillings 750 million, eventually growing to 2 billion shillings every six months. The Committee still did not seem to be convinced about its profitability however since the cost or running it was cited to be at over 4 billion shillings.

07 18 2014 Committee on Trade Tourism and Industry

Download DOCX Report

Upload
parliament-watch-uganda
View
31
Download
3

Embed Size (px)

DESCRIPTION

Citation preview

COMMITTEE ON TRADE TOURISM AND INDUSTRY MEETS VARIOUS CORPORATIONS TO DISCUSS THE MINISTERIAL POLICY STATEMENT AND REACT TO THE PROPOSED BUDGET 16/07/2013

The Committee was chaired by Hon Namara Grace, meeting UDC and MTAC to take their reactions to the Budget and their plans for the coming financial year, although more Organizations were scheduled for the meeting. The write-up is below is for the Meeting

UGANDA DEVELOPMENT CORPORATION (UDC)

The delegation from UDC stated that it intends on developing a waste treatment park in the industrial park in Kampala. IT presented that the Luwero fruit factory is expected to be operational in 2015. UDC also expects to conclude the Kalangala infrastructure services activities soon, inspecting the investment phase to be completed.

UDC has always been receiving Uganda Shillings 1.1 billion shillings and only in 2015/2016 will it get more amounting to 6.1 billion shillings. 1.1 billion shillings is allocated for the wage and operational costs.

UDC plans on carrying out due diligence on the proposed Kiira Motors project, silos for food security and value addition for agricultural products. The Teso fruits project (Soroti) is also planned.

UDC informed the Committee that it plans on improving the tourism sector by including hot air balloons, utilizing water bodies for cruises and are currently seeking funding for these projects.

UDC also plans on discouraging the importation of pulp from India through rivaling it with the fruit factories it will set up in Uganda, citing companies such as Britannia which import from India.

The Committee appreciated the need for due diligence and feasibility studies, some members citing the current state of Air Uganda and also asking about the feasibility of reviving Uganda Air.

The Kalangala Ferry was also discussed, with UDC stating that the dividends would first of all be Uganda shillings 750 million, eventually growing to 2 billion shillings every six months. The Committee still did not seem to be convinced about its profitability however since the cost or running it was cited to be at over 4 billion shillings.

UDC also presented that it is in the process of working with the engineers who developed the Kiira EV prototype in order to bring about the commercial production of Kiira class vehicles. A company has already been formed and registered named Kiira Motor Corporation, the Company has already obtained 100 acres in the Jinja industrial Park. UDC is coming up with a strategic plan to budget for construction of cars. It presented that it is in the process of building a partnership with Ashock-Leyland Company so that it can gain the capability to manufacture cars.