He stressed that the policy is not intended to discourage foreign investment, but rather to ensure that economic development strengthens local ownership, participation, and capability.
“The Ministry will therefore advance the review of reserved business activities, the new MSME legal framework, reforms to Company Haus, cooperative development, and provincial business support.
“Our task is to create a pathway from informal business activity to a resilient and bankable business, from a small cooperative to a reliable supplier, and from a local producer to a competitive exporter,” he said.
He added that government procurement must become part of this pathway so that a greater share of public expenditure helps build capable local enterprises, while ensuring value for money and maintaining integrity.
The Minister further emphasised that government procurement must also help build capable local businesses rather than exclude them.
“We should not train local businesses and then design procurement systems that automatically exclude them. Protecting our local companies shouldn’t mean they never have to work hard to improve.
“When we give local businesses special treatment, we must also give them training, clear rules, new ideas, and high standards,” he said.
Minister Kuma also reaffirmed the government’s commitment to building local companies that are strong enough to compete, grow, employ workers, and eventually sell to the rest of the world.
ENDS//
