President Museveni encourages Ugandan diaspora to foster value addition and investment

President Yoweri Kaguta Museveni has delivered a compelling message to the Ugandan Diaspora, urging them to seize the abundant opportunities available and make impactful investments in Uganda.

The President, at State Lodge-Nakasero on August 13th, 2023, delivered a virtual address at the closing ceremony of the second annual 2023 Canada National Resistance Movement (NRM) Chapter Symposium, emphasizing the importance of channeling resources from the Diaspora into productive ventures within the country.

The symposium, themed “Dialogue, Unity, and a Prosperous Diaspora,” took place over two days in Toronto, Canada. In his virtual address, President Museveni highlighted the significance of collaboration between Ugandans in the Diaspora and those at home, stressing the potential for collective efforts to yield remarkable results.

He underscored the idea of collective investment, urging the Diaspora to explore opportunities for partnerships that bring foreign friends and capital to Uganda. He encouraged those in the Diaspora to contribute their financial resources, no matter how modest, to support various enterprises in the country. The President emphasized that such collaborative efforts could have a transformative impact, particularly when combined with the knowledge and skills of Ugandans abroad.

Highlighting the nation’s focus on fostering a knowledge-based economy, President Museveni acknowledged the role of highly educated and qualified Ugandans living abroad. He lauded the efforts of local scientists who have contributed to groundbreaking projects, such as the development of electric vehicles and advancements in medicine. President Museveni expressed the hope that members of the Diaspora could join forces with these initiatives, infusing them with the much-needed resources to accelerate progress.

In this pursuit, the President highlighted specific sectors primed for growth, such as the production of electric vehicles, electric buses, and even electric motorcycles. President Museveni indicated that the government is actively engaged in supporting the knowledge economy, promoting innovation, and creating an enabling environment for technological advancements.

The President’s message resonated with a call for value addition to Uganda’s resources. He urged the Ugandan Diaspora to explore avenues for enhancing the value of the country’s products, such as coffee. By transforming raw materials into finished goods, the President stressed that Ugandans could significantly increase their income and create new employment opportunities.

Furthermore, President Museveni underscored the importance of full monetization of the economy, noting the historical shift from a subsistence-based society to a more vibrant money economy. He emphasized the significance of broadening the monetary GDP to reduce dependence on subsistence activities.

The President also touched on various achievements, including the growth of sectors like tea, coffee, and textiles. He emphasized that Uganda’s agricultural landscape had evolved from importing maize products to becoming a significant exporter of maize and other agricultural commodities.

In closing, President Museveni reiterated the government’s commitment to value addition, encouraging the Diaspora to contribute to the nation’s economic transformation. He expressed confidence that by joining forces, Ugandans at home and abroad could accelerate the nation’s journey toward prosperity and self-sufficiency through meaningful investments and value addition initiatives.