The Director of Economic Affairs at the Ministry of Finance, Moses Kaggwa, has underscored the pivotal role of the private sector in achieving Uganda’s ambitious economic growth targets.
Speaking during Spotlight Uganda hosted by NBS Television on Monday, Kaggwa highlighted the Ministry’s commitment to creating an enabling environment for private sector growth.
“At the Ministry of Finance, we know that for us to be able to grow our GDP to double digits, the private sector is at the heart of all this,” Kaggwa said.
He explained that a thriving private sector requires supportive policies and structures that facilitate business operations.
“The private sector demands an enabling environment, and as the Ministry of Finance, we try as much as possible to have customer-centric policies to facilitate the private sector,” he said.
Kaggwa also emphasised the importance of budget transparency and public awareness of government finances.
“People should see where their money is going. That’s budget transparency. That’s why we have implemented public finance management reforms,” he noted.
He further explained that simplifying taxation processes is key to ensuring compliance and building trust. “We must make sure that people understand the taxes, how they are imposed, and how they are collected. This simplifies the process,” Kaggwa added.
The discussion took place under the theme, “How UNBS and URA are Transforming Trade in Uganda,” highlighting ongoing reforms by the Uganda National Bureau of Standards (UNBS) and the Uganda Revenue Authority (URA) aimed at streamlining trade and strengthening economic growth.
Through these efforts, the Ministry of Finance aims to foster a business-friendly environment, enhance transparency, and ultimately position Uganda on a path toward sustainable, inclusive economic development.