Museveni & URSB launch National Intellectual Property Policy and SIMPO

Museveni & URSB launch National Intellectual Property Policy and SIMPO

President Yoweri Kaguta Museveni and Uganda Registration Services Bureau (URSB) have today launched National Intellectual Property Policy and the Security interest in Movable Property Registry System (SIMPO) at State House in Entebbe Uganda.

Below is what President Yoweri Kaguta Museveni wrote on his social media platforms—-

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“Together with the Uganda Registration Services Bureau, we have launched the National Intellectual Property Policy and the Security Interest in Movable Property Registry (SIMPO). This is a step in the right direction.The NRM Government continues to support all innovations aimed at increasing the profitability of Ugandans engaged in various enterprises.

The National Intellectual Property Policy will give innovators the full protection of the law through patents, copyright, trademarks etc. This will enable these innovators to earn their rightful recognition and financial returns for their toil and sweat.It is important that the Government creates an environment where creativity and innovation can thrive.

The improvement in the quality of human life and man’s transition from primitive existence to modernity are attributed to the discoveries in medicine, engineering, architecture, etc. It is through the creations of the human mind that we have been able to tame nature throughout the four and a half million years of man’s existence on earth.

Therefore, it is crucial that individuals or groups are rewarded for their innovations. However, we cannot talk about Intellectual Property Rights without addressing the issue of funding for our scientists who are behind most of the innovations which benefit all of us. Today, the whole world is waiting for scientists to develop a Coronavirus vaccine and cure.

Ugandan scientists are also working day and night to come up with a vaccine and cure to this deadly disease. Without the work of scientists, the whole world is doomed. This explains why we should invest highly in the innovations of our scientists. They are our lifesavers when faced with natural calamities such as diseases, floods, drought, pests, etc.

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The NRM Government’s drive towards industrialization is based on scientific research and innovation to support value addition on our local products. Uganda is endowed by nature with a wide variety of raw materials that can be processed into finished products. Our agricultural value chain for most products is still incomplete. This means that we are exporting raw materials which fetch less revenue for the Country and donating jobs to other people.

For instance, our youth can be helped to make quality handbags and shoes from the cowhides and skins. The National Intellectual Property Policy does not cover only the work of scientists. It also protects the creative works of artists like songs, paintings, literary writings, etc. For many years, African Literature was mainly oral and was passed on from generation to generation through storytelling, songs, chants, etc.

We now have an opportunity to preserve our rich African Literature through copyright. The same will apply to the local music productions by some of our young people that Ugandans like listening to. This is a significant achievement which will encourage the development of talent and reward the hard work of dedicated individuals in the entertainment industry.

Finally, the Security Interest in Movable Property Registry System will enable Ugandans to use their moveable assets as collateral to borrow money for their businesses from financial institutions. To most lenders, collateral means having land or a building; but if I have a thousand herd of cattle, each valued at 1 million Uganda shillings, why would you refuse to finance my investment?

For entrepreneurship, agriculture, and industrialization to thrive in Uganda, the Government will continue to address the issue of high lending rates amongst financial providers.With these few words, it is now my pleasure to launch the National Intellectual Policy and the Security Interest in Movable Property Registry System (SIMPO).

I thank you all,” President Yoweri Museveni wrote.

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