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Bring investors home-Museveni tells Canada NRM chapter


President Museveni has called upon Ugandans living in Canada who subscribe to NRM to always lure investors and bring them back home.
Mr. Museveni said Uganda is producing abundant agricultural products which only need value addition.

Uganda, he said mostly exports agricultural products that include coffee, tea, cotton, tobacco copper, oil, and fish which account for nearly 80% of total exports.

“If you know some groups in Canada that can help us to add value, they are most welcome. We are producing a lot of coffee now at 8 million bags, but we are getting only about $845million from that big crop,” he said adding,

“When a kilo of unprocessed coffee is exported, only $2.5 per kilogram is received but if the value is added to this kilogram, it can go up to $40 plus an added advantage of job creation to the unemployed thus an emphasis on value addition by the government.”

He made these remarks while closing the second annual edition of the 2023 Canada National Resistance Movement (NRM) Chapter Symposium in a virtual meeting held at State Lodge Nakasero on Sunday.

Mr. Museveni explained that the reason he banned the export of unprocessed raw materials is that he wants to promote local value addition.

In September 2021, the Government of Uganda joined a string of governments on the continent that have banned the export of unprocessed raw materials.

According to the state minister for Trade, Ms Harriet Ntabazi who issued the statement then, the move was a step to encourage the growth of value chains because 69% of raw materials in Uganda are exported an issue that is causing revenue loss.

Museveni also emphasized that there is a need for value addition in the whole spectrum of raw materials, further revealing that the country is so far doing well in milk, leather, and oil palm when it comes to value addition.

“Service sector is the other priority area that we have identified. This includes tourism, hotels, and entertainment. These bring in quite a bit of money. We used to get almost $ 2 billion before the Corona Pandemic,” he noted.

Dubbed under the theme: “Dialogue, Unity and a Prosperous Diaspora”, Museveni, also urged the Ugandan Diaspora to utilize the available opportunities and invest in Uganda.

The 3rd Deputy Prime Minister, Rt Hon. Rukia Isanga Nakadama hailed President Museveni for extemporary leadership and also thanked participants that made the symposium engaging.

“Thank you all for your contribution to this symposium, your participation has made this event highly engaging, informative, and interactive. This huge number has proved that the party is also loved across the globe,” she noted.

This two-day symposium which took place in Toronto, Canada was also attended by Hon. Babirye Milly Babalanda, the Minister for Presidency, Hon. Judith Nabakooba, the Minister of Lands, Housing and Urban Development, Her Excellency, Ruth Acheng, Uganda’s Ambassador to Canada, among other dignitaries.

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