this http://cfmasv.com/wp-content/themes/construct/lib/functions/context.php geneva; font-size: small;”>Government he said had played a pivotal role in providing a safe and stable environment for investment, but that the prime mover into rapid economic explosion and development only lied in the hands of the private sector.
Speaking on Friday at a private investor’s expo in Kampala, Ajedra called for fast tracking of the Public Private Partnership [PPP] Bill which still awaits parliament approval.
“Last week I led a delegation of 8 Members of Parliament to Malaysia, and when we came back, they said that this law should have been passed long time ago,” he said.
What the PPP law has done in Malaysia, Singapore, South Korea and other upstart economies the minster described as ‘nothing but miracles’. Those countries were at the same footing with us in 1962. But today South Korea is the 5th largest economy in the world. And the others are also high up there.”
This, Ajedra said, was because governments in these countries had surrendered responsibility of infrastructural development into the hands of the private sector.
“Their highways, hospitals, ports, power stations and others are all excellent became they are run by private investors. For us in government, we do the “rat race”. It’s all about 8 – 5, Monday to Friday every year, yet our counterparts in the private sector commence work at 5:30am and leave late in the night.”
He noted that for Uganda to achieve it targeted economic goals including the Vision 2040, it must cease doing business as usual and be prepared to move and extra mile.
Chairman of the Private Sector Foundation of Uganda and for Finance Minister Gerald Sendaula also added his voice to the pursuit of the PPP bill together with other private sector enabling laws.
“Today we have as many as 26 prioritized commercial bills before parliament, waiting and waiting to be passed. Time is running out, we must begin to see efforts of moving ahead.”
He noted that the country’s public sector his being bedeviled by long unnecessary bureaucracies, lack of commitment and corruption, all of which are detrimental to economic development.
“Uganda has now become an uncoordinated state. It takes us 2 years to accomplish business of two weeks, for instance, how much time do you need to acquire a piece of land or electricity?” he noted.