Government has mooted plans to revive Uganda Development Corporation (UDC) and its revival will be a major policy reversal and an indication that the Government intends to play a major role in the economy.
As a result, efforts to increase state intervention in the economy will gain momentum as an instrument of industrial development in the next fiscal year.
UDC used to oversee industrial development prior to privatization and there are several areas like the mining and textile sectors, in which the Government would like to intervene because if the private sector is left on its own will not be sufficient.
In order to foster industrialization, it's important to have a combination of the private and public sector.
Daudi Migereko, former tourism, trade and industry minister, stated the move was prompted by the need to have as many industries as possible to reduce unemployment.
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