President Museveni Attributes Uganda’s Industrial Growth to Sound Policy Decisions
President Museveni praised the thriving industrial sector in the country, attributing its success to well-executed policy decisions by the National Resistance Movement (NRM) government. He emphasized the importance of local and regional markets in attracting investors and expressed gratitude to NRM members and China for their collaboration.
President Museveni with the investors
President Museveni has hailed the flourishing industrial sector in Uganda, attributing its success to the well-executed policy decisions of the National Resistance Movement (NRM) government. Speaking at the Sino Uganda-Mbale Industrial Park, Museveni emphasized the role of astute policies in transforming the region from a once-overgrown area into a hub of industrial activity.
“We commissioned 16 factories and made a groundbreaking for another 9, bringing the total to 25. This site was a mere bush a few years ago, but now we boast a labour force of 2000 within 36 factories,” President Museveni said. He underlined that the correct policies, combined with the allure of the local market, have been instrumental in attracting investors.
Sino Uganda-Mbale Industrial Park
Museveni highlighted the conducive environment created by the Ugandan government, making it an attractive destination for investors. He assured investors of a thriving market for their products, including Uganda’s 46 million residents, the East African market of 130 million, and the broader African market of 1.5 billion people.
The President extended gratitude to NRM members for their commitment to the party’s vision and strategy. He also commended the long-standing friendship with China, a nation that has been collaborating with Uganda and Africa at large since 1949.
“Our unity against imperialism and our shared values have fostered collaborations that span generations. The Chinese government’s encouragement of Chinese companies to invest in Africa is truly commendable,” President Museveni stated.
President Museveni touring one of the factories at Sino Uganda-Mbale Industrial Park
The President reminisced about the restoration of property to Indians who had been ousted from Uganda. He expressed the importance of honouring property rights and preserving investor confidence. He criticized attempts by certain countries to curtail Ugandan product markets but remained confident in the quality and affordability of Ugandan goods.
Addressing challenges, President Museveni assured that electricity shortages would soon be resolved, as the government is actively working to address the issue. He urged government bodies to purchase meters and cables from local sources, reinforcing the commitment to domestic industry.
Furthermore, Museveni discouraged the purchase of second-hand clothes, advocating for the support of local textile manufacturers. The Minister of Finance, Planning, and Economic Development, Hon. Matia Kasaija, applauded Uganda’s strides towards industrialization, noting the positive impact on job creation.
