President Yoweri Museveni has said Uganda government will continue protecting local manufacturers from unfair competition with their foreign counterparts.
President Museveni said protection of local industries must be done and there is a need to start with the East African countries to promote the local industries by putting taxes on the imported final products because all these can be produced here.
The President gave the assurance while meeting members of the Presidential CEO Forum at State House Entebbe.
The team led by the Vice Chairman of the Presidential CEO Forum, Emmanuel Katongole sought an audience to brief the President on the achievements registered since the beginning of the forum in 2021.
During the meeting, Museveni emphasised that African countries should transform from raw material-producing economies to industrialization if they are to achieve socio-economic transformation.
He cited the case of the global textile industry worth US $ 800 million, which he said Uganda has been missing because of exporting unprocessed cotton.
Museveni therefore, tasked the Presidential CEO Forum to join the government in the fight against corruption, which he said is delaying local investment in Uganda.
The President also decried cases of what he termed as fake seedlings being distributed to farmers and vowed to replace the distributors.
President Museveni further stated that the Government is committed to providing cheap electricity and cheap transport as one of the ways to ensure low cost of doing business in Uganda.
