Museveni, UNIDO chief discuss Africa's industrial development

President Yoweri Museveni has said that there is no way Africa can industrialise without solving the issue of lowering costs of doing business including the provision of improved infrastructure, electricity, cost of money and quality labour force.

"Industrialisation will not take place if we don't deal with the basics. There is no way we can industrialise without solving the issue of lowering costs of doing business. United Nations Industrial Development Organisation (UNIDO) might not have the money to do this, but if we are harmonious in thinking and speak with one voice, we can unlock this potential," he said.

The President was on Wednesday meeting the Director-General of UNIDO, Li Yong, who called on him at his residence at the Intercontinental Hotel in Yokohama, Japan at the sidelines of the 7th TICAD Conference.

"It is good that people are talking about this now. Before it was only about social issues such as health and education. How do you maintain health and education sustainably without money and jobs?" he asked.

Museveni said Africa is slowly addressing the issue of a fragmented market through integration to support industrialisation and promoting infrastructure development including railway, waterways and electricity.

Yong commended President Museveni for his support towards the 3rd Industrialisation Revolution of  Africa and said he believes that the continent must industrialise to fulfil its economic potential.

He urged Museveni to raise the visibility of sustainable development goals, in particular, goal 9 that confirms the importance of industrialisation in achieving the much-needed structural transformation for long-term inclusive and sustainable development in developing countries.

Yong said through the new operations model of multi-stakeholder partnership, the Programme for Country Partnership (PCP), UNIDO will support industrialisation strategies and development of Uganda in line with the country's programmes.

He invited the President to two high-level meetings on industrial development in New York and Abu Dhabi later this year.