The Ministry of Finance Permanent Secretary and Secretary to the Treasury ,(PSST), Mr.Ramathan Ggoobi has underscored the role of manufacturing as a key ingredient in transforming Uganda’s economy .
Ggoobi -a renowned economists who has previously taught the “economics that works” said that the state should be involved in the country ‘s industrialization agenda by supporting those key sectors that will grow the economy , create jobs and improve the general wellbeing of Ugandans .
The PSST made the remarks while inspecting the construction works of Kiira vehicle Plant at the Jinja Industrial and Business park on Saturday. He was taken on a guided tour of the plant by the Executive Chairman Kiira Motors , Prof Sandy Stevens Tickodri-Togboa and CEO Mr. Paul Isaac Musasizi. The plant the biggest in East and Central Africa is set to produce 22 buses per day and 5,000 a year . It is being constructed by the UPDF Engineering Brigade under the army’s trading arm -the National Enterprise Corporation (NEC) headed by Gen. James Mugira.
Impressed by the work and investment to realise mission vehicles made in Uganda Ggoobi stated ; “You are on the right course. Students of industrial policy know that the route to higher returns has been through learning-by-doing.
“ In the process of learning, most private firms lose money which makes the role of government important. In all success stories, governments subsidised the initial learning process where private investors were unwilling to risk their capital in poorly understood businesses. Evidence shows although this exercise involves many disappointments, it is highly rewarding in the end.”
He pledged to continue supporting Kiira Motors to have the plant completed and start producing vehicles on a commercial scale next year .
