Human Capital More Important than Natural Resources – Museveni

Museveni addressing the NRM Delegates conference

President Museveni has said that for a country to increase productivity and achieve economic growth, store adiposity there is need to take advantage of human resources which are more important than the natural resources a region has.

To elucidate this, cure the President said some of the most prosperous societies in the world, buy more about have got plenty of human resource and scarcity of natural resources yet they are wealthy.

“Examples are China, Japan, South Korea. These societies are more prosperous than Saudi Arabia which has plenty of oil,” Museveni said.

This, he divulged during the NRM delegates conference at Namboole stadium on Monday evening.

The President said that Nigeria and Uganda, which have plenty of everything, are not as prosperous because they are not taking advantage of their human resource.

According to Museveni, natural resources benefit only the few people who extract and export them.

Museveni said human capital means the country has many skilled workers, who earn a lot of money for themselves, as well as provide more & better goods for other consumers and higher income for investors, which in turn attracts foreign capital and technology, and leads to even more growth.

The president said there is need for more integration, which will increase human capital and thereby grow the economy.

“The NRM stands for patriotism within Uganda (rejecting sectarianism of religion or tribe and gender chauvinism) and for Pan-Africanism in Africa,” he said.

He added that Pan-Africanism has two elements; economic integration and political integration.

“Economic integration aims at aggregating the fragmented markets on account of colonialism, so  to create more space for producers of goods and services, aggregate more consumers for them,” Museveni said.

With economic integration, in search of prosperity, the President said NRM aims at the formation of the common market of the whole of Africa.

Museveni said the country has already succeeded in the resurrection of the EAC and the formation of COMESA.

“We are now, together with our brothers and sisters, working on the tripartite integration of COMESA, EAC and SADC,” he said, adding that, “Eventually; we are working for the Common Market of the whole of Africa.”

He said this will ensure that Uganda’s goods and services will be sold in the whole length and breadth of Africa.

According to Museveni, the present population of Africa is 1.23 billion people. The population of Africa in 2050 will be 2.5 billion people.

“This is the greatest wealth of Africa. This educated and healthy population will be consuming more thus constituting a huge market, and producing more,” he said.

Museveni said with this huge market, the country can also negotiate, credibly and sustainably, with the external markets of the USA, China, Russia, India, Brazil, EU, etc., on a reciprocal basis.

He further said internal strength in Africa, will give the region more credibility to negotiate externally.

“By achieving this goal of economic integration and provided we solve other strategic bottlenecks soon to be laid out, Africa will undergo fundamental socio-economic transformation.” he said.

“The African countries, including Uganda, will individually, become First World countries. Uganda will become a middle-income country by 2019 and an upper middle income country by 2040,” the president said.


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