Don't waste investors’ time, Museveni tells public servants
President Museveni and first lady Janet Museveni pose for a photo with members of Tororo Cement Ltd after commissioning a new vertical rolling mill plant in Tororo District on September 21, 2023. PHOTO/HANDOUT
What you need to know:
- He explained that once the investors are welcomed and supported, they will contribute a lot to the development of Uganda.
President Yoweri Kaguta Museveni has appealed to Ugandans especially the politicians and public servants not to frustrate investors since they are very crucial in Uganda's progressive Industrialisation agenda.
"My appeal to Ugandans especially politicians and the public servants is to understand the role of industrialization but also understand the role of investors; don't waste their time," President Museveni said.
The President who was in the company of the First Lady and Minister of Education and Sports, Mrs Janet Museveni, made the remarks on September 21 as he commissioned the new Tororo Cement vertical rolling mill plant in Tororo District.
He explained that once the investors are welcomed and supported, they will contribute a lot to the development of Uganda.
"Wasting their time is nonreligious, support them so that they move quickly because we have nothing to lose but everything to gain. This factory here is not in India but in Uganda, it is employing our people here, using our electricity, water, and even if he takes the profits away, it will be only 10 percent of the value of the earnings," President Museveni noted.
The President further commended the Chairman of Tororo Cement Ltd, Mr Hasmukh Kanji Patel and his team for their enormous contribution towards the economy of Uganda.
Museveni also noted that although Tororo Cement Ltd is owned by an Indian, it is now part of Uganda's Gross Domestic Product (GDP).
"Ugandans should stop saying Indian factory, no this is not an Indian factory. These factories here are Ugandan factories regardless of who has built them. This is what GDP means. GDP is different from Gross National Product (GNP) which traces the wealth owned by citizens but all these powerful countries in the world are powerful because of bigger GDP for example the GDP of United States is 25 Trillion US dollars and much of that GDP is owned by Japanese, Arabs and so on but it gives the power to USA not to the countries of origin of the investors because this tax money is not going to India but coming to us," he emphasized.
"I'm very glad that Mr Patel came here and we privatised the other government factory and now he has expanded it. They are going to build another factory in Moroto to do clinker there. Clinker is the primary raw material for cement."
President Museveni also pledged that the government was going to distribute electricity to Katikekire in Moroto and give Tororo Cement Ltd mining rights for limestone to enable them swiftly do business in the area.
The First Lady Janet Kataha Museveni thanked the owners of Tororo Cement Ltd for contributing to Uganda's development by investing heavily in the East African country.
"This is a significant contribution to the economic development of our people and the nation and I thank you for laying a brick on our homeland," she said.
She also thanked Chairman Patel and his team for giving back to the community through building and renovating schools and Churches across Uganda.
The Minister of Finance, Planning and Economic Development, Mr Matia Kasaija said the factory has created 1,500 direct jobs and 5,000 indirect jobs in the country.
Chairman Patel said they have installed a $25 million rolling milling plant which is the most sophisticated mill in East and Central Africa. The plants used German technology and is producing 150 tonnes of clinker grinding per hour.
"By March next year with God's grace we would have installed a 300 tonne per hour clinker grinder. In total by March we will be having a grinding capacity of 5 million tonnes per year. The sky is the limit. Within 5 years we shall be having a 5,000 tonne plant in Moroto which will be producing clinker so that we don't have to import the product from Kenya or any other country,” he said.
The function was also attended by the Minister of Science, Technology and Innovation, Dr Monica Musenero, the Minister of Defence and Veteran Affairs, Mr Vincent Bamulangaki Ssempijja, the Minister of State for Investment and Privatisation, Ms Evelyn Anite, Members of Parliament, members of the diplomatic corps, religious and cultural leaders, among other officials.
