KAMPALA – The Government of Uganda, through the Uganda Registration Services Bureau (URSB), in partnership with other stakeholders will this morning launch the National Intellectual Property Policy and the Security Interest in Movable Property Registry System (SIMPO).
The event to be officiated by President Yoweri Museveni at State House Entebbe, will be led by the Minister of Justice & Constitutional Affairs Prof. Ephraim Kamuntu, Registrar General Bemanya Twebaze, and will also draw the participation of stakeholders from across a wide section of Ministries, Departments and Agencies (MDAs) involved in the intellectual property value chain and the financial services sector. The private sector, as well as Development Partners will also be in attendance.
The launch comes on the backdrop of cabinet passing the National Intellectual Property Policy, and the President assenting to the Security Interest in Movable Property Act, in May 2019
On 27th May, 2019, Cabinet approved the National Intellectual Property Policy, 2019 whose objective is to stimulate and nurture innovation and creativity for socioeconomic development of the country. The policy will facilitate integration of intellectual property into national priority sectors and programs towards realization of national development goals.
The Security Interest in Movable Property Registry System (SIMPO) replaced the manual Chattels Securities Registry. Its attendant legal framework responds to the pressing needs of the youth, women and SMEs who cannot access affordable credit due to lack of land, which is the preferred collateral for financial institutions. SIMPO is also intended to drive financial inclusion through facilitating access to affordable credit as guided by Vision 2040, the Third National Development Plan 2020-2025, and the 2016 – 2021 NRM Manifesto.
During the event, a report prepared with the guidance of a multi-institutional technical committee, under the same partnership with URSB will be presented to the president detailing how Uganda can advance the national and global sustainable economic growth through examining the transformative opportunities presented by intellectual property and easy access to credit especially for the thousands of Micro, Small & Medium Enterprises (MSMEs) as well as creators and innovators.
Accompanying the presentation to the president will be a report with action plans elaborating the strategic interventions by several actors to collectively harness the attributes of the two services to deliver on development results for Uganda. The scientific launch is being broadcast live on UBC and NBS televisions.