By Namugerwa Martha
Prof. Justin Lin a renowned expert on industrialization during a seminar with the development partners, Civil Society Organizations (CSOs) and the private sector at the Kampala Industrial Business Park (KIBP) in Namanve today said that targeting global markets is the key to promote industrialisation in low income countries like Uganda.
Lin a former senior vice president chief economist said that targeted industrialization is the key for Uganda’s development especially targeting global markets.
“With industrial parks, it’s vital to develop a small area with export oriented industries and when it becomes successful you should expand industrialization, attract and support the investors and ensure they are successful,” Lin said.
Lin added that it’s also important for the government and development partners to support work based trainings which can give skills to the young people who need jobs to develop industrialization in the country.
“If you want to make industrial parks successful, they need to be well located with good infrastructure and targeted for export,” Lin added.
However, Kasese Municipality MP Hon. Robert Centenary said that supporting small and medium enterprises (SMEs) remains a key for Uganda’s economy especially since its main industries started off that way.
Additionally, Southern and Eastern Africa Trade Information(SEATINI) Country director Ms Jane Nalunga said that Prof. Lin is right to target the global markets first instead of local and regional markets will help Uganda reach great heights in industrialisation adding that they need to grow those markets first.