President Yoweri Museveni has said that Uganda’s economy is now more diversified and sophisticated, compared to 1986 where the country depended only on coffee, cotton, cooper, tobacco, tea and tourism.
“According to a study conducted by the Harvard Economic Growth Lab, in the last 10 years, Uganda added 20 new products to its export basket and has an opportunity of harnessing production of 50 new complex products,” Museveni said.
Some of the new products, Museveni said, include; Information and Communication Technology equipment, serums and vaccines, medicines, new pneumatic tyres, batteries and gas turbines, among others.
He made the remarks while delivering the State of the Nation Address, marking the beginning of the 5th session of the 11th Parliament in Kololo ceremonial grounds on Thursday, 05 June 2025.
Museveni said that government has instituted a strategy to increase the size of the economy to US$500 billion by 2040, anchored on four sectors which are; agro-industralisation, tourism development, mineral development, including oil and gas, and Science, Technology and Innovation.
Explaining about agro-industralisation, Museveni said, “Government has invested in irrigation in order to boost agricultural production. This is because the provision of water for irrigation reduces the likelihood of crop failure, on account of water scarcity.”
He stressed the need to add value to the agricultural raw materials such as coffee, diary, beef, fish, fruits and vegetables, cocoa, cereals, poultry, piggery, cotton, tea, among others.
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