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Home Economy

Finance PS Ggoobi: Foreign missions to serve as economic bases for transformative growth!

by The Homeland Newspaper
February 24, 2026
in Economy
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Finance PS Ggoobi: Foreign missions to serve as economic bases for transformative growth!

Permanent Secretary Bagiire Vincent Waiswa told representatives from Uganda’s African embassies that missions must prioritize economic value by growing exports, attracting investment and gathering market intelligence over the next five years.

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Uganda’s Finance Ministry has pledged increased support for the country’s foreign missions to transform them into economic hubs capable of driving a ten-fold national growth strategy.

The commitment was made during a three-day mid-term review of the Economic and Commercial Diplomacy strategy, which concludes Tuesday at the Bamburi Beach Hotel.

Permanent Secretary Bagiire Vincent Waiswa told representatives from Uganda’s African embassies that missions must prioritize economic value by growing exports, attracting investment and gathering market intelligence over the next five years.

The strategy, launched in August 2025, serves as an operational tool managed jointly by the Ministry of Foreign Affairs and the Ministry of Finance, Planning and Economic Development.

Bagiire announced the establishment of a dedicated hub and secretariat to bolster research capabilities and ensure the quality of data used by diplomats. He also noted that foreign service officers will undergo internal capacity building, including direct placements at relevant government agencies, to better market Ugandan products abroad.

Ramathan Ggoobi, the permanent secretary of the Finance Ministry and secretary to the treasury, described the review as an investment decision exercise rather than a mere compliance check.

Missions abroad are not just political outposts but are also economic bases for transformative growth, Ggoobi said. He added that the government would scale up performing missions, fix constraints and redesign efforts that have failed to yield results.

Ggoobi urged diplomats to capitalize on the African Continental Free Trade Area, citing its $3 billion market value and 1.5 billion people. He emphasized that every diplomatic engagement should be evaluated by whether it creates market access for Uganda.

The review meeting identified four priorities for the missions: setting clear commercial targets, defining sector priorities, identifying buyers and maintaining measurable work plans.

Finance officials said the ministry will continue to fund missions that align their diplomatic efforts with commercial execution to ensure long-term national prosperity.

Email:homelandnewspaper@gmail.com

The Homeland Newspaper

The Homeland Newspaper

The Homeland Newspaper is Ugandan’s Leading independent weekly Newspaper that delivers real time news & information on Politics, Analysis,Investigations,Business,Finance

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