Museveni Outlines Strategies to Boost Uganda’s Economic Competitiveness

President Yoweri Museveni highlighted the government’s plan to enhance the competitiveness of Uganda’s products in both domestic and export markets. The focus is on reducing the cost of doing business, including expenses related to electricity, water, transport, and borrowing money from banks. Museveni emphasized the need to lower these costs to realistic levels, allowing for a more effective approach to addressing workers’ salaries.

The President, speaking on December 31, 2023, during his end-of-year address, reiterated the National Resistance Movement’s (NRM) goal of shifting people from agriculture to industry and services. Museveni pointed out that an excessive number of people in agriculture leads to underdevelopment and advocated for a transition to extensive agriculture.

To create wealth and jobs, President Museveni urged citizens to focus on commercial agriculture, industry, services, and information and communication technology (ICT). He emphasized the importance of distinguishing between intensive and extensive agriculture, promoting high-value activities in the former.

Regarding industry, Museveni shared that Uganda currently has 8,617 factories employing 829,668 people. Despite a positive influx of factories, he acknowledged corruption-related challenges hindering entrepreneurs from obtaining land or licenses.

In the services sector, efforts are being made to discipline aspects such as assisting musicians in recording songs and protecting their innovations through copyright laws. The ICT sector, employing 2.3 million people, is expected to grow further with the implementation of Business Process Outsourcing (BPO).

The President assured Ugandans of the government’s commitment to ending corruption, emphasizing that the corrupt are the minority. Museveni also discussed the importance of regional integration for creating prosperity through a wider market and addressed ongoing efforts to combat the Allied Democratic Forces (ADF) terrorists from the Democratic Republic of Congo.