All sectors must develop concurrently, says expert
Uganda has over the years been gravitating its focus on just a few sectors of the economy, which among them include industrialisation, energy and infrastructure. FILE PHOTO
What you need to know:
- Mr Moses Kibirige, a private sector development specialist at the World Bank, said government needs to continue reforming different sectors of the economy with the view of making them competitive.
- The World Bank, he said, has over the years offered Uganda at least $100m in loans which are yielding result.
Kampala. All sectors of the economy must grow concurrently to boost competitiveness, according to the Finance ministry national coordinator Investment Climate Strategy (CICS) secretariat.
Speaking during the ninth Nation Competiveness Forum Dr Peter Ngategize said government must seek for ways through it boosts competitiveness in all sectors of the economy.
“Uganda is doing well in the macroeconomic level with low inflation and a stable exchange rate regime. However, the level of competitiveness is low. Everyone should be engaged,” he said.
The business environment, he said, must be supported to create opportunities through building institutions and systems that work effectively towards achieving competitiveness.
Uganda has over the years been gravitating its focus on just a few sectors of the economy, which among them include industrialisation, energy and infrastructure.
However, the World Economic Forum, which measures competitiveness has been advising that growth must be spread out in order to make meaningful impact.
This points to a shift by different governments across Africa that seek to achieve competitiveness.
Mr Moses Kibirige, a private sector development specialist at the World Bank, said government needs to continue reforming different sectors of the economy with the view of making them competitive.
The World Bank, he said, has over the years offered Uganda at least $100m in loans which are yielding result.
The money, according to Mr Kibirige has helped to computerise 21 zonal offices that have been established towns in Kampala and in different towns’ upcountry.
