President Museveni Urges Japanese Investors To Support Uganda In Value Addition Instead Of Importing Raw Materials
President Yoweri Kaguta Museveni has this afternoon received the Foreign Minister of Japan, Mr Hayashi Yoshimasa with his delegation at the State House, Entebbe.
The discussion centered on how Japan can support Uganda specifically on value addition, by encouraging Japanese investors to set up in Uganda, as opposed to importing raw materials which keeps Africa and Uganda stunted despite having natural deposits capable of catapulting our economies.
President Museveni told the Foreign Minister that the economy of the whole of Africa is 2.7 trillion Dollars which is smaller than the GDP of Japan one country, Germany, and India.
He said that in the case of Uganda, some of the population is still outside the money economy (non-monetary GDP).” Africa is very deceptive because you can live without money as long as you eat if it is merely survival.” he said.
The president further informed the visiting foreign minister that until 2013, only 32 percent of Ugandans were in the money economy, however, with government interventions, they have doubled the figure but presented us with another hurdle that those who are in the money economy are dealing in raw materials.
“We are therefore undergoing what is called perennial hemorrhage and it’s responsible for Africa’s stunting due to our bankrupt planners, coupled with external parasites who manipulate, interfere politically, and work with traitors to retard Africa”, the president said.
He, therefore, called on Japanese Manufacturing Companies to take an interest in Uganda and add value to Ugandan products like Coffee.
President Museveni further requested the Japanese Foreign Minister to get companies that can make car batteries because Uganda has got Lithium. “We are already manufacturing electric cars, but we need car batteries.” President Museveni noted.
The meeting was also attended by the Japanese Ambassador to Uganda Hindemoto Fukuzawa, Hon. Gen. Jeje Odongo, Uganda’s Foreign Minister, Gen. Katumba Wamala, the Minister of Works & Transport, and the Attorney General, Mr Kiryowa Kiwanuka.
