CEO Forum: President Yoweri Museveni has hit out at KACITA for letting the country down by pushing for imports as cheap as wigs.

President Museveni was launching the Presidential CEO Forum (PFC) at State House Entebbe. The Presidential CEO Forum attracted several CEOs of leading companies in the country.

While launching the Presidential CEO Forum (PFC), Museveni explained: “If you want the country to grow, you need to look at what business you are doing. Does it bring in or does it suck out? That is the problem I used to have with KACITA. Their business was importing. They even reached the extent of importing wigs. Minimize and eliminate importing!”

The President revealed: “During my speech, I called upon the business community to adopt import substitution and export promotion if we as a country are to realize tangible economic progress.”

Museveni who called for minimized and eliminate importing, said: “I have never been in a business of importing, never. I am glad even my children don’t, we are farmers, and some have started manufacturing.”

The President said he was very happy to launch the Presidential CEO Forum and tipped: “I will organize, and they go to Kyankwanzi so that we can harmonize thinking globally.”

He went on: “Foreigners have been making money out of germs for a long time. Check on the internet and see the amount of money got out of vaccines.”

President Museveni pointed out: “I am glad my colleagues have agreed on paying scientists well. A scientist is not an observer but an actor in the economy.”

Museveni added: “Therefore, science is the basis of modernization. You must go to higher-level technology so that we protect ourselves but also make money.”