The Uganda Development Corporation (UDC) is an agency of the government of Uganda. It promotes and facilitates the industrial and economic development of Uganda.[3] Formed in 1952, it had some success in promoting local industrial development and was swelled with the addition of newly nationalised industries in the early 1970s. These, however, proved too much for the corporation, and it went into a slow decline before being completely phased out in 1998. The organisation was reconstituted with similar aims in 2008.[4]
History
Before Amin (1952–1971)
The UDC was created by the British colonial administration in 1952 to "facilitate the industrial and economic development of Uganda". Under the Uganda Development Corporation Act 1952, the objective of UDC was to "promote and assist in the financing, management or establishment of— new undertakings; schemes for the better organisation and modernisation of and the more efficient carrying out of any undertaking; and the conduct of research into the industrial and mineral potentialities of Uganda."[5]