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Museveni Stresses Organization Over Financing for Successful Investment in Uganda

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Sakchi Khandelwal
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Museveni Stresses Organization Over Financing for Successful Investment in Uganda

In a defining moment for Uganda's investment landscape, President Yoweri Museveni has asserted that organization, rather than financing, is the key to successful investment in the country. Museveni's perspective, delivered during an address at the Presidential Investors Conference, highlights the critical role of efficient and effective organizational structures in overcoming investment challenges in Uganda.

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Steering Socio-economic Development

During the conference, Museveni reassured investors of the government's commitment to supporting them in their efforts to boost the country's socio-economic development. He urged the Ministry of Trade, Industry, and Cooperatives to provide comprehensive support to investors, emphasizing that such assistance is not difficult to deliver.

President Museveni's direct interaction with investors from various sectors—including agriculture, manufacturing, services, and ICT—underscored the government's dedication to fostering a robust dialogue with the investment community. The meeting was a platform for discussing issues crucial to enhancing investments in Uganda, demonstrating the government's proactive approach to addressing investor concerns.

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Substantial Financial Support

Despite his emphasis on organization, President Museveni acknowledged the role of financial resources, revealing that the government has injected USD 230 million into the Uganda Development Bank (UDB) within a year to assist those investors who require support. However, he maintained that efficient management and strategic planning remain paramount for success in the Ugandan market.

Boosting Local Manufacturing

In a significant boost for local manufacturing, Museveni also commissioned a state-of-the-art diagnostic manufacturing facility, Microhaem Scientifics (MHS), in Ntinda, near the capital, Kampala. The facility, a first in the Great Lakes region, will produce high-quality, affordable test kits for diseases such as HIV and malaria. This development marks a significant stride in enhancing local manufacturing capacity, thereby improving and sustaining the medical supply chain needs in Uganda and across Africa.

In conclusion, President Yoweri Museveni's message to investors underscores the need for a shift in focus from financial resources to strategic organization and planning. This approach, coupled with the government's commitment to supporting investors and boosting local manufacturing, signals a promising future for Uganda's investment landscape.

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