In the 1980s, Dubai, whose wealth was delivered on donkeys, boosted three primary industries, driving them higher and higher. Tourism (every fifth building is a hotel, according to the last I read), real estate, and banking are the three areas. Only 5% of the total comes from oil.
We must all recognize that the majority of us, including our leaders, view capitalism in terms of consumption rather than creation.
Many of the world’s leaders are currently in Dubai due to consumer demand.
Another issue is that government agencies, like residents, operate in silos. It’s difficult for us to work together for the common good, and while this is improving, it’s not at the rate we should be.
Yes, there are moments when we should fight each other, but there must also be occasions when Ugandans unite to seize chances. Yes, there will be some chances from the Dubai Expo, but they will be insignificant in comparison to what we would have had if we had been prepared.
I recently stated on NBS TV Frontline that no country in the world can prosper without a well-defined external growth strategy.
Uganda, for example, looks at ten countries and determines that each must generate $ 20 billion in revenue annually.
The 78 South African enterprises that operate here are part of the country’s international economic strategy. They make around $ 500 million a year off our small economy. Kenya’s foreign business strategy includes four Kenyan banks and several more enterprises operating here.
A poor onion grower from Lwakhakha will never be able to empower a banana-growing peasant farmer from Kaberebere. NEVER!
To be relevant to each other, they both need to be able to reach higher-paying exterior markets.
With a clear external strategy, you may select the best human resources, such as ambassadors and commercial representatives, as well as deploy the appropriate resources to meet your objectives. That is something that my tiny businesses always educate me.
For example, in the case of the Dubai Expo, the correct human resource would have collaborated in advance on design, products to display, human resource to man the stalls or booths, marketing of the stalls, networking meetings, and so on.
The Chinese, for example, can create practically anything but our weather, the Nile, Lake Victoria, bird densities, organic foods, and so on.
The plan is to sell them high-priced items that they can’t make or find in their own nation.
You don’t try to sell them on what they’re excellent at, but rather on what you’re good at.
You’ll need a research team with actual figures; for example, if they need 10 million pineapples, you’ll need to work backwards with farmers to produce the appropriate quantities.
As an incentive, you negotiate favorable pricing for them.
They would love to see the source of the world’s longest river, for example, so make sure you put in great marketing efforts to make the Chinese feel like if they don’t go see it, they are a nobody!