World Bank Group has urged Uganda to develop and utilise her 800 tradable products properly to achieve broad economic diversification needed for long term and sustainable economic development.
Diversification of the economy and broad-based economic development are critical for the long-term sustainable development in resource-rich developing countries (RRDCs). Evidence from around the world shows some countries with a strong resource base have managed to diversify their economies and exports, but many have not.
The Bank says though Uganda has expanded its export products to 60, there are still a lot of resources that need to be exploited to transform and diversify the economy. Read more. Source | Daily Monitor