Uganda to attain first world status in 50 years

By John Odyek

Uganda is to become a middle income by 2017 and a first world country in 50 years.

President Yoweri Museveni said those who still perceive Ugandan as a third world country are "an endangered species". "If you don't want to be in such a good country then you should go away," Museveni teased MPs, during Thursday's State of Nation address.

Reflecting on Uganda's Vision 2040 which aims at transforming Uganda from a predominantly peasant and low income country to a competitive upper middle income country with per capita income of about US$9,500 by 2040 from the current US$506, Museveni observed that with the highly skilled human resource, Uganda there was no way this vision could be missed.

On the long road to 2040, average real GDP growth rate will be over 8.2% per annum translating into total GDP of about US $580.5bn with a projected population of 61.3 million, Museveni said, adding that Uganda's total GDP today stands at US420.2b.

"The projected high growth rate will match the level of development observed in upper middle income countries such as Malaysia, Mauritius, Hungary and Chile," he said.

To attain the high level of per capita income, the country will exploit its enormous and novelty opportunities including oil and gas, tourism, minerals, ICT business, abundant youthful labour force, strategic geographical location, fresh water resources, industries and agriculture, he added.

These opportunities, he added, will be harnessed through strengthening fundamentals including; physical infrastructure (transport, ICT and energy), science, technology, engineering and innovation and globally competitive human resource.