The government has committed Ugx 257 billion to the development of Science, Technology, and Innovation (STI) infrastructure through the budget for FY2024/25.
While officiating the 15th National Competitiveness Forum, which took place on October 3, 2024, at the Mestil Hotel, Kampala, the Minister for Finance, Planning, and Economic Development, Matia Kasaijja, stated that the development of STI infrastructure benefits the country in vast ways, stating that current world problems are solved with current solutions, hence the need to invest in STI development.
“The government has allocated the Ugx 257 billion in key projects like the Banana Industrial Research and Development Centre (PIBID), which has been allocated Ugx 49.6 billion for scaling operations, and Kiira Motors Corporation, which has received Ugx 32.5 billion to advance electric vehicle manufacturing,” he noted.
Kasaijja added that the government remains committed to creating an enabling environment for the private sector to thrive, especially in industries that align with the 10-fold strategy, such as the pathogen economy and mobility, which hold significant potential for import substitution, export growth, and job creation.
“I would like to emphasize that Uganda stands at the threshold of a new era. This transformative goal, guided by the Vision 2040 blueprint, calls for a shift toward a knowledge economy—where innovation, science, and technology are not just enablers but drivers of economic growth,” said the Finance Minister.
Ramathan Ggobi, the Permanent Secretary of the Ministry of Finance, Planning, and Economic Development, added that the global STI market presents opportunities worth USD 51.4 trillion, with the pathogen economy alone valued at USD 12 trillion, while mobility is at USD 15 trillion.
“Today’s discussions are to help us identify opportunities along these value chains for the private sector to invest and transform this economy. Currently, 77% of Uganda’s import expenditure is spent on STI-related products; this shows the government’s commitment to develop the STI infrastructure,” he said.
Uganda has boosted its efforts to develop STI as a profound economic and social transformation, as evidenced in the National Development Plan iii (NDP III) under program 14 (innovation, Technology development and Transfer).
STI development will improve the competitiveness of Ugandan firms and industries competing in the global market.
