{"id":34902,"date":"2022-08-01T14:25:06","date_gmt":"2022-08-01T14:25:06","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-seeks-to-balance-exports-consumption-in-free-zones"},"modified":"2022-08-01T14:34:39","modified_gmt":"2022-08-01T14:34:39","slug":"govt-seeks-to-balance-exports-consumption-in-free-zones","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-seeks-to-balance-exports-consumption-in-free-zones","title":{"rendered":"Govt seeks to \u00a0balance exports, consumption in free zones"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>Government is in the process of amending the Free Zones Act 2014 to introduce a 50\/50 balance between production for export and local consumption.<\/p>\n

The Act, established under the Uganda Investment Code Act, currently demands that 80 percent of what is produced in free economic zones is exported while 20 percent can be locally consumed.<\/p>\n

However, speaking in Kampala at the weekend, Mr Alinda Kimooomi, the Uganda Free Zones Authority executive director, said, there should be a balance to attract investment in producing for the local economy.<\/p>\n

The plan, he also noted, includes changing the current status of some of the zones into special economic zones.<\/p>\n

The current law, he said, demands that 80 percent of what is produced is exported but this should be changed to strike a balance between exports local consumption.<\/p>\n

\u201cThe amendments will at least strike a balance to have 50 percent produced for export and 50 percent for local consumption,\u201d he said, noting that so far, with about 31 free zones dealing in single factories, the Uganda Free Zones Authority, will seek to set up another six centres to widen the scope beyond dairy, cocoa, coffee and leather.<\/p>\n

\u201cThere are certain challenges we have met and one of those is the limited scope of the scheme. The scheme provides for export processing zones and free ports but we have realised that we actually need an element for special economic zones,\u201d he said.<\/p>\n

The export processing zones, he noted, have stringent measures which requires that one must be able to export a certain percentage, which in the case of Uganda must be 80 percent or more of what is produced.<\/p>\n

However, he said, the special economic zones have a bit of latitude to allow processors and manufacturers to tap into local markets.<\/p>\n

During the 2020\/21 financial year, goods exported through free zones, according to Mr Kimooomi, contributed 23 percent of Uganda\u2019s exports valued at about $1.25b.<\/p>\n

\u201cWe believe that if we can double or triple then the whole country will be benefiting,\u201d he said, noting that there will be special focus on facilitating companies that process goods from locally available raw materials so that there can be backward demand linkage to benefit farmers.<\/p>\n

Policy incentive<\/p>\n

The free zones are part of policy incentive that seeks to exploit Uganda\u2019s export potential to tap into growing regional markets as well as create employment for the youth, increase local value proposition and foreign exchange.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. Government is in the process of amending the Free Zones Act 2014 to introduce a 50\/50 balance between production for export and local consumption. The Act, established under the Uganda Investment Code Act, currently demands that 80 percent of what is produced in free economic zones is exported while 20 percent can […]<\/p>\n","protected":false},"author":84,"featured_media":34901,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,240,234],"class_list":["post-34902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nGovt seeks to \u00a0balance exports, consumption in free zones - Uganda<\/title>\n<meta name=\"description\" content=\"Government is in the process of amending the Free Zones Act 2014 to introduce a 50\/50 balance between production for exp ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-seeks-to-balance-exports-consumption-in-free-zones\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt seeks to \u00a0balance exports, consumption in free zones\" \/>\n<meta property=\"og:description\" content=\"Government is in the process of amending the Free Zones Act 2014 to introduce a 50\/50 balance between production for exp ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-seeks-to-balance-exports-consumption-in-free-zones\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-01T14:25:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-01T14:34:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/08\/postQueueImg_4.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-seeks-to-balance-exports-consumption-in-free-zones#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-seeks-to-balance-exports-consumption-in-free-zones\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Govt seeks to \u00a0balance exports, consumption in free zones\",\"datePublished\":\"2022-08-01T14:25:06+00:00\",\"dateModified\":\"2022-08-01T14:34:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-seeks-to-balance-exports-consumption-in-free-zones\"},\"wordCount\":417,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-seeks-to-balance-exports-consumption-in-free-zones#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/08\/postQueueImg_4.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-seeks-to-balance-exports-consumption-in-free-zones#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-seeks-to-balance-exports-consumption-in-free-zones\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/govt-seeks-to-balance-exports-consumption-in-free-zones\",\"name\":\"Govt seeks to \u00a0balance exports, consumption in free zones - 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