Kampala, Uganda | Uganda and the United Arab Emirates (UAE) have reaffirmed their commitment to deepen economic cooperation across energy, infrastructure, agribusiness, and finance during the Fourth Uganda–UAE Business Forum at Speke Resort, Munyonyo. The three-day forum, organized by Uganda’s Missions in Abu Dhabi and Dubai in partnership with the Ministry of Foreign Affairs and the UAE Embassy in Kampala, attracted over 300 delegates from both countries.
In her keynote address, Prime Minister Robinah Nabbanja highlighted the UAE as Uganda’s largest export destination, with bilateral trade reaching $2.85 billion as of September 2025. She noted that UAE investments in Uganda’s energy, infrastructure, agribusiness, oil and gas, manufacturing, real estate, and tourism sectors now total $3.5 billion.
“Uganda ranks seventh among the fastest-growing economies in the world and maintains one of the most stable currencies on the continent,” Nabbanja said. “Our goal is to grow the economy from $61.3 billion to $500 billion by 2040, and we invite UAE partners to join us on this transformative journey.”
Minister of State for Investment Evelyn Anite encouraged UAE investors to explore inland water transport, mineral value addition, and affordable financing for Ugandan entrepreneurs. “Access to credit remains a major constraint. With UAE capital, our SMEs can scale production and drive growth,” she said, adding that investment in modern vessels, port upgrades, and local refineries could replicate the UAE’s successful gold refining model.
Patrick Ayota, Managing Director of the National Social Security Fund (NSSF), underscored the resilience of the Uganda shilling, which has appreciated against the U.S. dollar over the past five years. He highlighted NSSF’s collaboration with UAE institutions to co-invest in agriculture and food security, aligning Uganda with the UAE’s 2051 domestic food strategy.
Uganda’s Ambassador to the UAE, Zaake Wanume Kibedi, described the evolving partnership as a multi-sector collaboration built on trade, infrastructure, and innovation. Bilateral trade has grown from just over $300 million in 2018 to $2.85 billion today, positioning the UAE as Uganda’s top export destination. “Our partnership is no longer transactional—it is transformational, focusing on job creation, technology transfer, and positioning Uganda as a gateway for Gulf capital into Africa,” he said.
Peter Muramira, Director at the Uganda Investment Authority (UIA), highlighted Uganda’s transition to an energy-secure economy through a $70 billion investment portfolio in electricity, oil and gas, and industrial infrastructure. Major projects include the $30 billion Buyende Nuclear Power Plant, a $275 million LPG terminal, and a $5 billion petrochemical industrial park. Muramira emphasized that Uganda seeks investors who bring capital, technology, and expertise to drive sustainable industrialization and value addition.
The Ministry of Foreign Affairs said the forum reinforces Uganda’s readiness to host world-class investments in energy, ICT, tourism, and manufacturing in line with Vision 2040. The forum continues through October 29, 2025, featuring sectoral panels, business-to-business meetings, and field visits aimed at turning discussions into actionable partnerships.