Trade Ministry to host inaugural BUBU Expo
KAMPALA, Uganda: The inaugural Buy Uganda Build Uganda (BUBU) Expo is set to take place between March 7-9 at the Independent Grounds in Kololo.
The event is organized by the Ministry of Trade, Cooperatives, and Industry. The entrance for the three-day event is free for all.
The event will also have the Women in Business Conference on Saturday 9th March 2019. The theme for the Women in Business Conference is; embracing Innovative Value Addition for Business success. Similarly, there will be a Gala nite to crown off the event on the 9th of March.
The Buy Uganda, Build Uganda (BUBU) is a government policy that was approved by Cabinet in 2014 to promote the consumption and procurement of goods and services produced locally.
This will encourage foreign and local investors to produce locally, improve the capacity of local producers to supply government, enhance the quality and competitiveness on the local & international market, create jobs and drive the country to achieve the Middle Income Status.
According to Trade Minister, Hon. Amelia Kyambadde, the BUBU initiatives seeks to have all shelves in supermarkets stocked with 50% of locally produced products by 2020. Similarly, 20% of all government procurement should be from local products, services, and companies.
Amelia noted that the BUBU Expo is a proposed annual three (3) day event under a Private Public Partnership between The Ministry of Trade and Cooperatives (MTIC) and Investment Review Publications (IRP), aimed at promoting BUBU by, promoting local content, encouraging and building patriotism in the general public, and enhancing networking and coordination around the BUBU policy
The BUBU program is also geared at creating awareness among the local population to have the love for what is produced locally and to consume local products.
The government has over time engaged in a robust media campaign to create awareness on the need to buy what we produce locally.
The policy was developed out of the incessant demand by the private sector especially manufacturers to expand the domestic market for local products. The policy, therefore, aims at increasing the participation of local firms in domestic trade by mandatory Government procurement of locally made goods and services and undertaking measures to persuade the private sector (institutions and individuals) to consume/use local goods and services.
Uganda’s persistent trade deficit is caused by the continued high import bill. The high import bill is majorly caused by the refusal of the domestic market to purchase locally available products.
