Private sector players have asked the government to implement policies that support recovery of businesses especially in the midst of the pandemic.
The second wave of the COVID-19 pandemic in Uganda continues to threaten the economy as infection rates rise to 77,505 and reported deaths reach 868 as of June 29, 2021.
The 42-day lock down that has pushed many Ugandans to stay home has cut many from their sources of livelihoods as well as disrupted normal operation of crucial businesses.
The concerns were raised during a virtual public-private policy dialogue organised by Private Sector Foundation Uganda (PSFU) in partnership with The Innovation Village, Uganda Tourism Association, Uganda Healthcare Federation and Mastercard Foundation.
The dialogue was aimed at the Reflection on the FY2021/22 National Budget, sharing ideas on how best the government and the private sector can work together to rebuild the country’s economy.
Matia Kasaija, the Minister for Finance, Planning and Economic development said the budget for this financial year continues to focus on interventions which counter socio-economic recovery.
According to Japheth Kawanguzi, Team Leader at The Innovation Village, to fully revive the economy and ensure businesses become resilient against the third or fourth wave of Covid-19 pandemic, there is need to incorporate technology and innovation into businesses, offer financial relief to start-ups, and create policies that provide favorable environment for entrepreneurs to walk the business journey.