President Yoweri Museveni has urged the business community in Uganda to adopt import substitution and export promotion if the country is to realize substantial economic advancement.
Museveni made the remarks today Tuesday, 24 August 2021 during the inauguration of the Presidential CEO Forum (PCF) board at State House Entebbe.
The Presidential CEO Forum headed by Barbara Mulwana as its chairperson is a direct and adequate link between the private sector leadership, CEO’s from corporate institutions and government executives with the aim of contributing to the National Development Agenda.
“If you want the country to grow, you need to look at what business you are doing. Does it bring blood here or does it suck blood and take it out? That is the problem I used to have with KASITA. Their business was importing. They even reached the extent of importing wigs. The main message is, please minimize and eliminate importing,” Museveni said.
The President appreciated the value in having business forums like PCF which he said facilitate government in policy formulation. He directed that government departments such as Prime Minister’s office and the Ministry of Finance to always consult them before formulating policies.
President Museveni noted that there are two economic actors in the economic history of the world.
“Among those economic actors, there are those who import, not importing raw materials or inputs but finished goods. Those people I would like to discourage them and gradually convert them to actors here who make things from here,” he said.
The Chairperson Presidential CEO Forum, Barbra Mulwana said the inauguration of Presidential CEO Forum marks a momentous landmark within the private sector society to have access of championing government’s agenda towards nurturing the social economic transformation and development of Uganda.
Mulwana said that the PCF will deliver on its vision through three key initiatives that include; fostering the social economic transformation agenda in all policy conversations that are to administer private sector participation, develop a well profiled and vetted data Bank of Ugandan CEO’s and compliment government with practical interventions on economic recovery, entrepreneurship growth and value addition that will enhance home- engineered industrialization.
“It is our aspiration that this forum, which has been founded on strict non-sectoral principles, shall provide the previously missing link between the public and private sector at both the decision making and implementation levels,” she said.
Other PCF board members are Emmanuel Katongole, Douglas Opio, Irene Birungi, Prof Charles Kwesiga, Mathias Katamba, Dr Joseph Muvawala, Daniel Birungi and Agnes Kiraga. The others are Daniela Tibamwenda, Paul Isaac Musaasizi and Ruth Biyi.
The team assured the President of their commitment to soldier on in the war for economic prosperity revealing that they are ready to join hands with the government to fully liberate Uganda on economic front.
The ceremony was also attended by the Minister of Finance, Planning and Economic Development Hon. Mattia Kasaija and various CEOs from the public and private sector.