Uganda is increasingly becoming attractive for investments in the knowledge economy, President Yoweri Museveni has said.
Speaking during the 44th Tarehe Sita (6th of February) celebrations in the central region district of Kyotera, President Museveni said Uganda has now entered the development phase that focuses on investments in science, technology, and innovation.
“Uganda’s economy is doing well. We expect it to reach $59.3 billion by June 2025. We are aiming for a $500 billion economy in the next few years, and people need to pay attention to this.
President Museveni said this growth will come mainly from improving infrastructure, increasing industrialization, and moving towards a knowledge-based economy. Oil production is also expected to help the economy grow quickly.
He added, “After June 2025, Uganda’s economy will grow by 7.3 percent without oil. That is a high growth speed, and very few countries can achieve that.”
The President cited electric vehicle production, vaccine development, breakthrough agricultural research, and pharmaceutical production as evidence that Uganda’s knowledge economy is coming of age.
President Museveni commended Dei BioPharma Ltd. For pioneering live-saving drugs, including cancer treatments, Kiira Motors for electric bus manufacturing, Gulu University for vaccine and medicine development, and the National Agricultural Research Organisation for agricultural research.
The President encouraged Ugandans to seize emerging opportunities in innovation, industrialization, and value addition to secure a prosperous future.
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