Africa-Press – Uganda. Uganda is not a poor country but one rich in potential, endowed with abundant natural resources and a favorable climate that, if fully harnessed, can propel the nation to sustainable prosperity, according to Miriam Kisamba Bwengye, Senior Investments Officer at the Uganda Development Corporation (UDC).
Speaking during Spotlight Uganda, hosted by Sanyuka Television under the theme “Advancing Trade and Industrial Growth for Uganda’s Transformation,” Bwengye emphasised that Uganda’s journey toward upper middle-income status hinges on industrialisation and value addition, particularly in sectors where the country already has comparative advantages.
“Uganda is not a poor country. With our rich resources and favorable climate, we just need to harness them through industrialisation to achieve real growth,” she said.
As part of its mandate, UDC, a government investment arm, channels public funds into strategic ventures that stimulate economic development and create employment opportunities.
Bwengye explained that the corporation prioritises investments in sectors that can transform livelihoods and drive inclusive growth.
“We are a government agency that invests public funds. We receive proposals and follow a thorough procedure to select the best. Our focus is on sectors that create jobs — for example, many Ugandans are involved in agriculture, and that is where we often invest,” she said.
Highlighting the critical role of agriculture and agro-industrialisation, Bwengye observed that value addition within the agricultural sector remains one of the most effective ways to boost exports, reduce imports, and grow household incomes.
“Everyone involved in agriculture earns an income, which contributes to economic growth. We also assess different regions to identify what can be developed in each area,” she said.
Bwengye further underlined UDC’s commitment to promoting domestic manufacturing and reducing dependency on imported goods.
“At UDC, we are committed to manufacturing our own products so that we reduce imports and ensure we produce and consume our own goods,” she said.
Bwengye also pointed out that UDC works closely with private enterprises — including family-founded firms — to ensure that local industries remain competitive and sustainable.
“There are private companies started by families that have failed, but they had been buying raw materials from here, and we cannot let them fail,” Bwengye said, emphasising the importance of safeguarding local production chains.
According to the organisers of Spotlight Uganda, the nation’s projected tenfold economic growth will be anchored on agro-industrialisation, tourism, mineral benefaction, and advancements in science, technology, and innovation.
The upcoming National Development Plan IV (NDP IV) will serve as a guiding framework, introducing a shift from sector-based to programme-based planning — a move expected to enhance coordination and efficiency across government efforts.
Bwengye reiterated UDC’s dedication to driving trade, industrial growth, and sustainable development through smart investments that leverage Uganda’s natural wealth for national transformation.
“At UDC, we focus on growing the country through trade. We want to see Uganda develop by harnessing our natural resources and exporting them,” she said.
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