1970 Nakivubo Pronouncement, which allowed for stakes up to 60 percent. Under Amin (1971–as above1979) After new President Idi Amin presided over the expulsion of Asians from Uganda in 1972, the UDC gained control over some of the largest enterprises previously controlled by those expelled, to which it added some 90 nationalised British holdings in the country later in the same year. Acquisitions from the Asians included much of the profitable Madhvani and Mehta Groups (with the exception of the sugar industry), and from the British a diverse portfolio including tea plantations, a printing firm, a cigarette factory, and a hoe factory. Together, these gains should have provided it with a possible turnover of $100 million and doubled its assets. Both the rapid nature of the growth and the sudden lack of experienced technicians and managers, however, proved a challenge for the corporation. Uganda's industrial development strategy had been unsuccessful in promoting human resource development as the 1962 report had suggested, and local entrepreneurial capabilities "were not promoted and nurtured". Technological capabilities were also lacking. Indeed, by late 1973 such was the lack in management capability that the UDC was unable to obtain financial reports from 14 of its 52 subsidiaries, and there were tensions in the boardroom. The Nakivubo Pronouncement was revoked and in some industries the UDC was instructed to refrain from owning controlling stakes. The UDC started to decline. It had over-extended its capacity and could not effectively control the many industries in which it now owned stakes. Because of this, the public sector was re-organised again in 1974 creating nine holding companies, further weakening the UDC - some of its original profitable industries were removed, leaving it with the same liabilities but fewer assets. By the second half of the 1970s, with all viable manufacturing units reallocated, the UDC was reduced to a skeleton staff based in its headquarters. After Amin (1979–present) Faced with mounting economic strife, in 1982 the incoming Obote administration opted to liberalise the economy, returning some government-owned companies to former owners, including the Asian conglomerates. Some other nationalised companies, split from the UDC in 1974, were returned to it in a futile attempt to spur innovation. Restructuring By the time the law that re-created UDC wound its way through Uganda's parliament in 2015, only one legacy asset remained, Lake Katwe Salt Works, in Kasese District. New investments, focusing on public-private-partnerships, include the