KAMPALA — The Minister of Finance, Planning and Economic Development, Hon. Henry Musasizi, has called for stronger trade partnerships and increased access to affordable development financing as Uganda pursues its goal of building a self-sustaining economy.
Musasizi made the remarks during a meeting with the United Nations Development Programme (UNDP) Resident Representative, Nwanne Vwede-Obahor, at the Ministry of Finance headquarters in Kampala on Thursday.
The meeting, which was also attended by the Minister of State for Privatization and Investment, Hon. Aminah Mukalazi, focused on strengthening cooperation between the Government of Uganda and UNDP, particularly in government development financing and the implementation of the country’s development priorities.
The UNDP delegation, accompanied by Deputy Resident Representative Ian King, Senior Economic Advisor Thangavel Palanivel and other officials, congratulated Musasizi on his appointment as Finance Minister and reaffirmed the agency’s commitment to supporting Uganda’s development agenda through improved coordination and implementation of development interventions.
Musasizi welcomed UNDP’s continued partnership with Uganda and praised the alignment of the agency’s programmes with the Fourth National Development Plan (NDP IV) and the government’s Tenfold Growth Strategy.
He said the government remains focused on transforming Uganda into a US$500 billion economy by 2040, emphasizing that the country’s long-term development would be driven by investment and trade rather than dependence on foreign aid.
“What Uganda requires is not aid but strong trade partners,” Musasizi said.
The minister also highlighted the government’s target of increasing the domestic revenue-to-GDP ratio from 14 percent to 20 percent by 2030 under the Second Domestic Revenue Mobilization Strategy, saying the move would strengthen Uganda’s ability to finance its own development.
He urged UNDP to help mobilize affordable financing for Uganda by engaging development finance institutions and investors interested in supporting the country’s growth.
“We are politically stable, offer attractive investment incentives and remain one of the best tourist destinations,” Musasizi said, inviting investors to take advantage of opportunities in Uganda.
State Minister for Privatization and Investment Aminah Mukalazi thanked UNDP for its continued support, particularly its increasing focus on private sector development and job creation, which she said complements the government’s economic transformation agenda.
The meeting underscored the continued partnership between the Government of Uganda and UNDP as both sides pledged to strengthen cooperation in delivering sustainable development and supporting Uganda’s economic growth objectives.
