President Yoweri Museveni on Thursday officially commissioned the Kiira Vehicle Plant in Jinja, marking a significant milestone in Uganda’s industrial sector.
Speaking at the event, Museveni highlighted the country’s ongoing economic growth and outlined plans to leverage natural resources for broader development.
“Uganda's economy is currently growing at 7 percent and is expected to exceed 10 percent once our oil production begins,” President Museveni said.
He emphasized that the nation has a “clear vision” for societal transformation through strategic industrial projects.
The Kiira Vehicle Plant, which will assemble locally designed vehicles, is seen as a cornerstone of Uganda’s push toward industrialization.
Beyond vehicles, the President revealed plans to process Uganda’s rich iron ore reserves in Kabale and Butogota into high-quality steel.
He said the initiative would significantly cut the country’s dependence on steel imports, which currently cost over $900 million annually.
“This is an opportunity to create jobs, foster innovation, and retain more value within Uganda,” Museveni added.
The steel processing plan aligns with broader government efforts to promote local manufacturing, reduce import bills, and stimulate economic growth.
Economists say projects like the Kiira Vehicle Plant not only boost industrial output but also enhance skills development and technological capacity among Ugandans.
By linking resource extraction, such as iron ore, to local production, the government aims to maximize the benefits of Uganda’s natural wealth.
The commissioning ceremony drew industry stakeholders, government officials, and investors keen to participate in Uganda’s growing industrial sector.
President Museveni’s remarks reinforced the government’s commitment to turning Uganda into a hub of manufacturing and innovation, ensuring that natural resources contribute directly to the nation’s prosperity.
With strategic projects underway, Uganda is positioning itself to reduce reliance on imports, increase local employment, and sustain high economic growth in the coming year.