The eagerly anticipated Uganda – United Arab Emirates (UAE) Business Forum is poised to kick off in Kampala from the 10th to the 13th of October 2023. This 2nd edition is set to be a game-changer, with the theme “Uganda: the gateway of the UAE to the EAC region.”
The stage is set at the exquisite Speke Resort and Conference Center, Munyonyo, where key stakeholders from Uganda and the UAE will convene to explore untapped opportunities in a range of sectors.
The Forum aims to mobilize Foreign Direct Investment (FDI), stimulate exports, promote tourism, facilitate technology transfers, and strengthen the enduring bonds between the two nations.
The forum aims to promote Ugandan products and investments in major sectors including commercial agriculture and agro industries, tourism, energy and minerals, oil and gas, manufacturing, infrastructure and public transport, health and education, as well as real estate.
A Vision for Investment and Prosperity
H.E. Zaake Kibedi, Uganda’s Ambassador to the UAE, expressed his optimism about the event, stating that the Forum would present an excellent platform for showcasing Uganda’s investment potential to UAE investors. Uganda has identified priority sectors that are ripe for investment, and this forum will highlight these opportunities.
Hon Evelyn Anite: Fostering Economic Growth
The Minister of State for Investment, Hon Evelyn Anite, emphasized the Forum’s role in fostering Foreign Direct Investment and boosting exports. She highlighted its significance in promoting tourism, facilitating technology transfers, and enhancing the ties between the two nations.
The Uganda – UAE Business Forum has ambitious goals:
- Mobilizing Investments: The primary aim is to mobilize private and public investments in sectors identified as priorities for Uganda’s growth.
- Business Climate Understanding: UAE investors will gain a comprehensive understanding of Uganda’s business climate, the government’s vision, and the country’s export potential.
- Promoting Partnerships: The Forum will promote private-public partnerships and business-to-business collaborations, fostering a vibrant economic ecosystem.
- Showcasing Ugandan Products: A highlight of the event will be the promotion of Ugandan products, allowing UAE investors to explore and engage with the country’s diverse offerings.
- Tourism Promotion: The Forum recognizes the potential for tourism growth and will emphasize the allure of Uganda as a travel destination.
Trade and Investment Overview
The Uganda – UAE trade and investment relationship has seen remarkable growth in recent years:
- FDI Surge: Foreign Direct Investment from the UAE into Uganda has surged, increasing from $300 million in 2018 to a staggering $3 billion in 2023, reflecting the growing confidence of UAE investors in Uganda’s economic prospects.
- Exports on the Rise: Uganda’s exports to the UAE have witnessed significant expansion, reaching $562 million in 2020 and soaring to $1 billion in 2021.
- Import Growth: Uganda’s imports from the UAE have also grown substantially, rising from $495 million in 2020 to $810 million in 2021, highlighting the two nations’ increasingly intertwined economies.
As the Uganda – UAE Business Forum draws nearer, the anticipation and excitement are palpable. This event promises to be a catalyst for a new era of economic cooperation between Uganda and the UAE, opening doors to investment, trade, and prosperity that will benefit both nations.