The Minister Finance Henry Musasizi has challenged businesses to turn Government’s wealth creation and affordable financing initiatives into larger, profitable and export-oriented enterprises, as Uganda seeks to build a US$500 billion economy by 2040.
Speaking at the 17th National Competitiveness Forum in Kampala, Musasizi said Uganda must do things differently under National Development Plan (NDP) IV and the Tenfold Growth Strategy by sustaining economic growth of about 8% annually over the medium term, creating productive jobs and improving household incomes.
Musasizi said the Government has invested heavily in catalytic financing to de-risk private investment and expand access to affordable capital.
He urged stronger private-sector partnerships, technology adoption, value addition, improved storage and logistics, quality standards and export financing.
Meanwhile, Aminah Mukalazi the State Minister for Privatization and Investment called for a shift in the Government’s wealth creation programmes from counting beneficiaries to building sustainable enterprises that create jobs, add value and generate exports.
