Construction Sector Pivotal to Uganda’s $500 Billion Economy Ambition, Says Musasizi

The Ugandan government has identified the construction industry as a critical engine for achieving its ambitious goal of building a $500 billion economy by 2040. Speaking at the National Competitiveness Forum 2026 in Kampala, Henry Musasizi, the Minister of State for Finance, Planning and Economic Development (General Duties), highlighted that construction underpins growth across multiple sectors including agriculture, tourism, manufacturing, and housing.

Minister Musasizi emphasized that expanding agro-industrialisation and regional development requires robust physical infrastructure such as processing plants, warehouses, cold-chain facilities, and reliable transport networks. To unlock this potential, the government is focusing on three key pillars: improving the regulatory environment to streamline building approvals, strengthening local contractor capacities through skills and equipment access, and expanding affordable long-term financing to tackle the country’s estimated 2.4 million housing deficit.

During the forum, officials also provided updates on broader private sector reforms aimed at lowering the cost of doing business. Dianah Nannono, Head of the Private Sector Development Unit, noted that increased funding to the Uganda National Bureau of Standards (UNBS) has enhanced product certification and laboratory testing capacity. Additionally, reductions in electricity connection fees and targeted industrial park developments in Namanve, Mbale, and Kapeka are designed to foster a competitive manufacturing and construction ecosystem.

Read more about these developments in the original report on Nile Post.