Uganda’s economic transformation will increasingly depend on the country’s ability to turn research, knowledge and innovation into higher productivity, Finance, Planning and Economic Development Minister Henry Musasizi has said.
Musasizi made the remarks on Tuesday, September 22, while officiating at the 30th Annual International Management Conference at Imperial Golf View Hotel in Entebbe.
The conference, organised by Makerere University Business School (MUBS), was held under the theme, “The Knowledge Revolution: Driving Innovation and Sustainable Development in Africa.”
Musasizi called on policymakers to place greater emphasis on evidence, research and specialised knowledge when developing government policies and making decisions.
He cautioned officials against relying on unverified opinions when presenting proposals for policy consideration.
“I urged policymakers not to bring opinions they pick from the streets to the boardroom, challenging them to ensure that proposals presented for policy consideration are supported by credible evidence,” Musasizi said.
The minister explained that the Ministry of Finance, Planning and Economic Development works with universities and research institutions, including the Economic Policy Research Centre, to strengthen research and promote evidence-based policymaking.
He also challenged researchers and academics to develop specialised areas of expertise rather than attempting to cover every subject.
According to Musasizi, Uganda’s growing focus on the knowledge economy is already contributing to the development of value chains and emerging industries.
He cited pharmaceuticals, electric mobility, vaccines and coffee value addition as areas where knowledge and innovation could support economic growth and create new opportunities.
The minister further said innovation, information and connectivity could help Uganda develop more diversified and competitive export products.
He noted that investment in research and human capital development would remain critical to improving productivity and sustaining economic growth.
Musasizi said African countries must increase investment in research and development and human capital if they are to achieve faster economic transformation.
He also called for stronger partnerships between research institutions, government and the private sector to support industrialisation, agricultural productivity, manufacturing and job creation.
The minister linked the knowledge and innovation agenda to Uganda’s 10-fold growth strategy, which identifies science, technology and innovation among the anchor sectors expected to drive the economy.
He said closer collaboration between researchers, policymakers and businesses would be important in turning ideas and specialised knowledge into practical solutions for Uganda’s development.