President Yoweri Museveni has said government’s decision to liberalize the economy has immensely paid off by creating wealth and jobs for Ugandans.
Economic liberalization encompasses the processes, including government policies, that promote free trade, deregulation, elimination of subsidies, price controls and rationing systems, and, often, the downsizing or privatization of public services.
According to President Museveni, when the NRA/NRM government came to power, they embraced the liberalization policy with the aim of improving service delivery because the previous governments had not correctly understood how to create wealth, so they ended up messing up the country’s economy.
To say this , the President was officially launching Protea Hotel Naguru Skyz, an establishment owned by indigenous businessman Mr. Patrick Bitature on Friday 30th September, 2022.
He said, when the current government came into power in 1986, they started by stabilizing and bringing peace in the country but at the back of their minds, they knew that peace would not be enough when the economy is in shambles.
“In 1989, I went back to my area in Nyabushozi, I told the people that there’s peace now but we don’t eat peace; we also need development and this could only be achieved through Human resource development [Education and health], Infrastructure, wealth and job creation. They are all connected because how will you create wealth if you don’t have literate and educated people who are healthy? Then how will you create wealth if you don’t have roads [infrastructure],” President Museveni stated.
“I engaged them in Dairy farming to drive them out of poverty. By 1995, it had succeeded. From there, I decided to do a countrywide tour telling people about wealth and job creation. What NRM government is doing is like God bringing rain and if you don’t harvest it, there will be water everywhere but no water in your home because you failed to “Kulembeka” [harvest water].”
The President further lauded and credited Mr. Bitature, who is also the Chairman Simba Group of Companies for utilizing the opportunities created by government to generate wealth and jobs for Ugandans.
” Therefore, I’m very happy with what Bitature is doing. I know the challenges are there but they are short term. I congratulate him and his family for being strong people. You know his father was killed by Idi Amin but him and his siblings managed to survive the shocks and studied. When time came, you see what they are doing. I want to salute them for being good examples to others,” Mr. Museveni complimented.
The State Minister for Investment, Hon. Evelyn Anite also commended President Museveni for being a great leader with exceptional leadership skills that have enabled Uganda to developed socially, politically and economically.
“I want to thank our President for being a fair and just leader to our local and foreign investors. He is the reason why most investors are still in business today,” she said.
On his part, Mr. Bitature thanked President Museveni for being a true freedom fighter who has redefined the true meaning of peace and conducive environment that has enabled business people like him to create wealth and jobs.
“We are truly grateful and cannot simply underestimate your enormous sacrifice you have made for Uganda. Skyz Hotel has been a child born and had never been baptized. It has now been baptized and we are very optmistic that it will prosper and grow more better,” Mr. Bitature added.
The Uganda Hotel Owners Association Executive Director , Ms. Jean Byamugisha l applauded the President for being the biggest marketer of Uganda’s tourism.
“Mr. President thank you for supporting the tourism industry which contributes 7.7 percent of the country’s GDP. It is the biggest foreign exchange earner. It also has the highest number of women in leadership ,” Ms. Byamugisha said.
She however requested the President to reduce on the number of taxes imposed on the industry, if it is to develop further.
“There are 25 different types of taxes imposed on the industry. With all those taxes, it very difficult to break even.”
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