The Pearl of Africa Business Forum and Expo has opened in Kuala Lumpur, Malaysia, with Uganda aiming to secure trade and investment potential of around USD 5 billion over the next five years.
A high-powered delegation led by Finance Minister Hon. Matia Kasaija is spearheading the effort.
The delegation includes Energy Minister Hon. Ruth Nankabirwa, Agriculture Minister Hon Bright Rwamirama, and Uganda’s High Commissioner to Malaysia, Amb Betty O. Bigombe.
The opening ceremony was graced by Hon. Yang Bhg Muhtar Hashim, the Executive Director of the Chemical Industries Council of Malaysia.
Muhtar highlighted the immense opportunities for trade between the two countries.
Hon. Matia Kasaija emphasized Uganda’s conducive climate for investment, citing a supportive legal framework.
Ruth Nankabirwa, the Energy Minister, noted Uganda’s attractiveness for investment in the oil and gas sector.
“Our policy is not to export any raw materials, so there is plenty of investment opportunities in mineral processing,” she said.
Nankabirwa added that Uganda has various minerals, including iron ore, copper, oil, and gold, and is seeking investors.
Ambassador Betty Bigombe described the Trade and Investment Forum as a reflection of the mutual commitment to deepening economic ties between Uganda and Malaysia.
“Today is more than just a business forum; it is a bridge between nations, between opportunity and ambition, and between vision and action,” she said.
Bigombe highlighted Uganda’s vast natural resources, youthful population, and stable economy.
Uganda is strategically positioned as a gateway to the East African Community (EAC), a vibrant market of over 300 million consumers, and to the Common Market for Eastern and Southern Africa (COMESA),” she said.
The Expo focuses on five high-impact sectors: agro-industrialisation, tourism development, oil and gas, science and technology, and mineral development.
Bigombe invited investment in various areas, including value addition, agro-processing, eco-lodges, and tourism infrastructure.
In the oil and gas sector, she noted that several bankable projects are ready for investors, including the East African Crude Oil Pipeline (EACOP).
Uganda is also driving digital transformation and innovation through ICT parks and youth innovation hubs.
The Uganda Investment Authority (UIA) has established a one-stop centre to facilitate investors with licenses, land, and regulatory support.
Uganda offers attractive investment incentives, including 100% foreign ownership, repatriation of profits, and tax holidays.
The UIA has profiled over 120 bankable investment projects across various sectors.
The two-day forum has attracted private investors from Uganda and Malaysia, showcasing the potential for strengthened economic ties between the two countries.
