Uganda is stable, Museveni tells investors

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Museveni commissioning a bus-assembly plant

President Yoweri Kaguta Museveni on March 9 toured factories in Mbalala, Mukono and later commissioned a bus-assembly plant in Namanve, Wakiso.

In Mbalala, he commissioned five factories; Royikems Industries (mattresses, plastics), Landy Industries (sandals/shoes), Sino Textile (blankets), CCLE Rubber Company (rubber, lubricants) and Tian Tang Industries (mattresses, steel).

Mbalala-Mukono area has over 40 factories, employing at least 50,000 people.

All these developments are happening because of the government’s deliberate move to create an enabling investment environment, he said.

Museveni noted that recently, some criminal elements were trying to sow fear among investors but his government is handling that.

“Uganda is stable. I have said before that those who try to destabilize our country do not know our capacity. It is big. Once we mobilise, you cannot survive if you are a trouble-maker,” he warned.

Investing in Uganda is a correct decision because it is the right place and this is the right time for production, with a growing market to absorb the products while the government continues to better the infrastructure, the president noted.

“About wages, we are making progress. Parliament has just passed the Minimum Wage Bill. But wage must be linked to the cost of production and negotiated scientifically not emotionally.”

To help lower production costs, the government is pushing for more electricity generation and sold cheaply, working on rail and water transport while offering cheap credit through the Uganda Development Bank.

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