It gives me great joy and happiness to see so many Ugandans and Friends of Uganda converging here tonight to celebrate this important occasion of 54 years of Independence.
Allow me to first congratulate and thank those who conceived the idea of organizing this event and most of all, for inviting me to celebrate with you. My deep appreciation goes to all of you who have in one way or another given support to the organizers of tonight.
Our meeting tonight could not happen at a more defining moment. Independent Uganda clocked 54 years on October 09, 2016. It is a milestone which calls for celebration and evaluation. We have gone through many political and economic difficulties together since Independence. We have had wars, Citizens have been internally displaced, and others have run out of Uganda so they may stay alive. Many have lost their lives through no fault of theirs. Infrastructure has been damaged. But worst of all we have missed the chance to grow as one people, the opportunity to develop our country together. Therefore, my dear Ugandans, we should not lose hope. Uganda is our motherland and is crying for us all in the Diaspora. How can we contribute to achieve the above?
Diaspora as fundamental link
Remittances as a stable source of capital than private capital. This has had a direct impact on poverty because they flow directly to households. However, remittances have not played a major role beyond supporting household welfare yet the Uganda Diaspora could pay in enhancing and enabling Foreign Direct Investment (FDI) into Uganda. The Uganda Diaspora community has the potential to invest in its own right but also has the knowledge, expertise and experience that could be deployed in enabling private sector investment.
In addition the Uganda Diaspora executives working for multinationals can play a role of influencing investment decision to outsource operations to firms in Uganda. The Uganda Diaspora skills could also be mobilized to provide managerial and knowledge expertise to firms in Uganda. Diaspora can also help spread ideas.
Ugandan Diaspora could become an important class of investors because they have a better understanding of the risk assessment capability of their country.
By Government Bonds
In conclusion, Uganda Diaspora is a crucial actor for economic development.
However, now is the time to make Uganda a country to be proud of. We can all contribute to the development of our country from wherever we are. Once again Government appreciates whatever role and contribution you are making. Happy 54th birthday Uganda, may we all prosper.