Uganda’s private sector has urged government to introduce deliberate incentives that can attract investment and unlock the country’s Tenfold Growth Strategy.
During discussions at the 6th Uganda Economic Forum, business leaders emphasised that Uganda’s vast natural and cultural wealth remains underutilised and requires supportive policies to reach its potential.
Tourism sector representative Byamugisha stressed that the industry could play a central role in achieving the Tenfold Growth ambition if it is given the right support. “We cannot talk about tenfold growth without putting tourism at the centre of our economic planning. Uganda has the product, but what we need is an enabling environment to make it thrive,” he said.
Speakers at the forum argued for meaningful tax reliefs, better access to financing, and targeted subsidies to boost competitiveness and attract both domestic and foreign investors. They warned that without a supportive policy framework, the Tenfold Growth target risks remaining a vision rather than a reality.
The Tenfold Growth Plan seeks to increase Uganda’s GDP ten times by 2040, with priority areas in tourism, agriculture, manufacturing, mineral development, and ICT. Private sector leaders noted that while the ambition is clear, translating it into action will require government to address business bottlenecks and provide incentives that directly encourage investment.
The private sector’s message was consistent, Uganda has the resources and talent to achieve rapid growth, but without bold incentives, the strategy will remain out of reach.