President Yoweri Museveni has extended an invitation to investors in Canada to take part in the value addition crusade as Uganda embarks on the journey of shifting from a raw material exporting country.
Museveni was on August 13 addressing the Canada National Resistance Movement (NRM) Chapter Symposium when he presented a number of opportunities to prospective investors.
Speaking to over 350 Ugandans living in Canada via Zoom, President Museveni said his government was ready to receive the interested Canadians for viable investments in Uganda.
“The Canadian investors who are willing to add value to our products are welcome to Uganda,” Museveni told his audience which was made up of both Ugandans and Canadians.
According to a statement from the ruling NRM party, “The President who is also the NRM National Chairman took his audience through a process that has seen the government transiting from a small economy to a more progressive status with reasonable exports that earn the country huge foreign exchanges.”
“He said by 1962, Uganda was basically surviving on cotton, coffee, copper (3Cs) tobacco, tea and tourism (3Ts) but by the time NRM took power in 1986, the past regimes had failed to sustain the trend,” the party said.
“Museveni said NRM has since prioritized the recovery and expansion process of the economy with even new products that were not formerly considered to be of any economic value now largely contributing to the country’s economy,” the party added.
The president explained that Uganda was prioritizing value addition in order to earn more through foreign exchange.
“He said the interested Canadian investors can also invest in other service sectors like tourism, hotels and ICT among others,” the party noted.
