economy 22 June 2026 Daily Monitor (Uganda)
Economists Tout Transparency and Predictable Policies for Uganda's $500B Growth
Experts are urging the Ugandan government to prioritize transparency and policy consistency to achieve the nation's ambitious goal of increasing its economy from $50 billion to $500 billion by 2040. Source: https://www.monitor.co.ug/uganda/news/national/economists-urge-transparency-predictable-policies-to-hit-uganda-s-500b-growth-target-5504650
Ugandan economists and business leaders have stressed the critical need for transparency and predictable policies as the nation strives to meet an ambitious economic growth target. The goal is to expand the economy tenfold, from approximately $50 billion in 2023 to $500 billion by 2040.
Discussions at the 2026 Foreign Chambers Policy Summit highlighted that while Uganda possesses strong potential due to its young population and regional trade opportunities, this potential can only be unlocked through consistent policy implementation. Experts emphasized that policies attracting investment need to be predictable, transparent, consultative, and practical.
Policy certainty is seen as vital for attracting investment, generating jobs, and sustaining long-term economic growth. This aligns with Uganda’s “Tenfold Growth Strategy,” which focuses on priority sectors like Agro-industrialisation, Tourism, Mineral development, and Science/Technology innovation. The government has been aligning its budgets and development plans, including the fourth National Development Plan and the recent Shs84 trillion budget, to support this agenda.
Business leaders underscored that employment reforms are central to the growth strategy, advocating for a more competitive labor market and workforce development. Confidence, built on clear policies, reliable institutions, respected contracts, and ongoing dialogue between the government and private sector, is considered the bedrock for investment and development.
The summit, organized by AmCham Uganda in collaboration with other chambers of commerce, also emphasized the importance of structured engagement and data sharing between policymakers and the private sector. While acknowledging a willingness from policymakers to listen, stakeholders called for more sustainable and substantial engagement to effectively address investment and operational concerns.