President Museveni has called for stronger collaboration between government and the private sector to accelerate industrialisation, saying Uganda’s ambition of building a $500 billion economy will depend on expanding manufacturing, attracting investment and integrating regional value chains.
The President’s message was delivered by Finance Minister Henry Musasizi at the 3rd Annual Regional Industrialisation Conference 2026, where policymakers, industrialists, financiers and business leaders met to discuss ways of improving East Africa’s industrial competitiveness.
Musasizi said industrialisation remains the backbone of Uganda’s economic transformation because it creates jobs, adds value to local raw materials and expands regional trade in manufactured goods.
“Achieving Uganda’s long-term 10-fold growth ambition of a US$500 billion economy will require genuine partnership between Government and the private sector,” Musasizi said.
Industrial parks anchor investment drive
The minister said government is positioning industrial parks as key production centres for both domestic and export markets.
He cited the Kampala Industrial and Business Park in Namanve, which spans about 1,000 hectares, as a major hub attracting manufacturers, logistics firms, food processors and agro-processors.
He also highlighted the Sino-Uganda Bio-Industrial Park, which covers about 619 acres and hosts around 75 factories employing more than 12,000 people.
According to Musasizi, the parks are intended to help Uganda produce competitive manufactured goods for the East African Community (EAC) and the wider African market.
Priority investment areas include agro-processing, pharmaceuticals, textiles, leather, steel, petrochemicals, construction materials and logistics.
East Africa’s 400 million consumers
Musasizi urged businesses to view East Africa as a single market rather than fragmented national economies.
“East Africa has a consumer market of more than 400 million people, while the African Continental Free Trade Area opens access to a market of about 1.4 billion people,” he said.
He added that government remains committed to removing non-tariff barriers, operationalising one-stop border posts and improving regional market access.
Manufacturing still below regional target
Private Sector Foundation Uganda (PSFU) Board Chairman Humfrey Nzeyi said manufacturing remains below the region’s industrialisation ambitions despite its growing contribution to Uganda’s economy.
“Manufacturing contributes about 9.7% to 11.8% of regional GDP, below the EAC industrialisation policy target of 25% by 2032,” Nzeyi said.
He noted that manufacturing contributes more than 16.5% of Uganda’s GDP and supports about two million direct jobs, making it a critical source of employment, exports and tax revenue.
Nzeyi called for greater investment in long-term industrial financing, reliable energy, transport infrastructure, standards enforcement and stronger cross-border value chains.
Industry calls for production-led growth
State Minister for Industry David Bahati said East African economies must focus on increasing production and exports to remain competitive.
“East Africa must focus on producing more, manufacturing more and exporting more,” Bahati said.
He identified electricity, transport infrastructure, irrigation, regional connectivity and persistent non-tariff barriers as major obstacles limiting industrial growth and trade across the region.
The conference concluded with renewed calls for practical partnerships between government and businesses to translate regional industrialisation commitments into higher investment, production and exports.
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