International Uganda and the United Arab Emirates (UAE) have reaffirmed their commitment to deepen economic cooperation across key sectors including energy, infrastructure, agribusiness, and finance. The commitment followed three days of high-level deliberations at the Fourth Uganda–UAE Business Forum, held at Speke Resort Munyonyo in Kampala.
The forum, jointly organized by Uganda’s Missions in Abu Dhabi and Dubai, the Ministry of Foreign Affairs, and the UAE Embassy in Kampala, brought together more than 300 delegates from both nations. The event marked a new chapter in Uganda’s efforts to consolidate trade, investment, and innovation links with the Gulf region. In her keynote address, Prime Minister Robinah Nabbanja noted that the UAE has emerged as Uganda’s largest export destination, with bilateral trade volumes reaching $2.85 billion as of September 2025.
“The value of UAE investment in Uganda’s energy, infrastructure, agribusiness, oil and gas, manufacturing, real estate, and tourism sectors has reached $3.5 billion,” Nabbanja said. “Uganda ranks seventh among the fastest-growing economies in the world and maintains one of the most stable currencies on the continent.” She reaffirmed government’s long- term goal to expand the economy tenfold by 2040. “Our ambition is to grow Uganda’s economy from $61.3 billion to $500 billion by 2040.
We invite our partners from the United Arab Emirates to join us on this transformative journey as we move from lower-middle-income to upper- middle-income status.” Evelyn Anite, Minister of State for Investment, called on Emirati investors to seize opportunities in inland water transport, mineral value addition, and affordable credit financing for Ugandan entrepreneurs. “Our biggest constraint is access to credit,” Anite said. “We know you have cheap capital in the UAE bring affordable financing so our small and medium enterprises can scale up production.”
She encouraged UAE investors to partner in developing modern vessels, port upgrades, and water-works on Lakes Victoria, Kyoga, and Albert, and to invest in refineries for gold and other minerals locally. “The same model that attracted gold refiners to the UAE should bring them here,” she added. Anite reiterated that Uganda’s liberalized economy guarantees investor freedom and stability: “After you’ve paid your dues, you’re free to move or reinvest your profits. Uganda’s open market system provides the confidence and security that investors need.”
Patrick Ayota, Managing Director of the National Social Security Fund (NSSF), highlighted the resilience of the Uganda shilling, noting that it has appreciated against the U.S. dollar over the past five years a rare trend among African currencies. “If you came into Uganda five years ago with $10,000 and converted it back today, you would have $695 more,” Ayota explained.
“That strength reflects confidence in Uganda’s fundamentals and a liberalized financial system.” He revealed that NSSF is working with UAE institutions to co-invest in agriculture and food-security ventures, positioning Uganda as a production hub for the UAE’s 2051 domestic food strategy. Uganda’s Ambassador to the UAE, Zaake Wanume Kibedi, described the bilateral relationship as a multi- sector partnership built on trade, infrastructure, and innovation.
“Trade between Uganda and the UAE has grown exponentially, making the UAE Uganda’s leading export destination,” Ambassador Kibedi noted. “This partnership represents a bridge of mutual prosperity.” He pointed out that bilateral trade expanded from $300 million in 2018 to $2.85 billion in 2025, attributing the growth to improved diplomatic engagement, private-sector dialogue, and strong logistical connectivity. “Our partnership is no longer transactional – it is transformational,” he emphasized. “The focus now is to ensure that investments create jobs, promote technology transfer, and position Uganda as a key gateway for Gulf capital into Africa.” Peter Muramira, Director at the Uganda Investment Authority (UIA), outlined Uganda’s transition from an energy-scarce to energy-secure economy, underpinned by a $70 billion investment portfolio spanning electricity, oil and gas, and industrial infrastructure. He cited landmark projects such as the $30 billion Buyende Nuclear Power Plant, a $275 million LPG terminal, and a $5 billion petrochemical industrial park, describing them as proof of Uganda’s commitment to sustainable industrialization and value addition. “The government seeks investors who bring capital, technology, and expertise,” Muramira said. “Uganda’s clear incentive framework and stable policy environment make it not just open for business but ready for transformation.”
According to the Ministry of Foreign Affairs, the forum reaffirmed Uganda’s readiness to host world-class investments in energy, ICT, tourism, and manufacturing, all aligned with Vision 2040. As the business forum concluded on October 29, 2025, delegates participated in sectoral panels, business-to-business meetings, and field visits designed to turn commitments into tangible partnerships that will propel Uganda– UAE economic collaboration to the next level. Delegates attending the Fourth Uganda–UAE Business Forum at Speke Resort Munyonyo.
By Obed Twijukye, Public Affairs Assistant, Uganda Media Centre | October 29 2025 |
