MUSEVENI WARNS ANYBODY WHO WILL OBSTRUCT INVESTORS IN ANY WAY

MUSEVENI WARNS ANYBODY WHO WILL OBSTRUCT INVESTORS IN ANY WAY

By Tukundane Yonna

 

 

President Museveni has maintained his stand on reversing the culture of buying without selling as in the State of the Nation address.

“Kugula without kutunda is a recipe for failure.  I am seriously engaging KACITA (Kampala City Traders) on this,” the president said addressing members of parliament during today’s 2016/17 budget reading.

Mueveni insists that government shall work for exports all over the globe and not just exporting unprocessed coffee and cotton, but exporting final products e.g. textiles, processed fish, processed milk and milk products, vegetables oil, etc.

The president noted that some companies are already exporting final products. Fine Spinners have already exported 2.5 million pieces of T-shirts to Europe and East Africa and, they are planning to double their exports to 5 million pieces of T-shirts by next year.

Nytil is exporting in the region.  Milk factories are exporting milk and milk products to Kenya, South Sudan, Congo, Tanzania, Sudan, United Arab Emirates (UAE), Nigeria, Syria,  USA and other COMESA countries.   Uganda’s processed fish has for long been exported to the European Union – 80%, Japan – 4%, UAE – 5%, USA – 4% and others (Israel, Asia and Middle East) – 7%.

The president affirmed that anybody who obstructs investors in any way will be dispensed with.

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