The Uganda-UAE Business Forum is set to host its 2nd annual event aimed at enhancing foreign direct investment (FDI), promoting exports, boosting tourism, facilitating technology transfers, and strengthening bilateral ties between Uganda and the United Arab Emirates (UAE).
Scheduled to take place from October 10th to 13th, 2023, the forum will be held at the Speke Resort Conference Centre in Kampala, Uganda, under the theme “Uganda: the Gateway of the UAE Region.”
Hon. Anite Eyeiyn, the state minister of Finance for investment and privatisation, emphasized that the Forum’s primary objective is to mobilize private and public investments in key sectors of Uganda’s economy, presenting attractive investment opportunities to UAE investors.
“The forum aims to facilitate constructive dialogue between the Ugandan and UAE business communities, providing a platform for trade and investment policymakers,” stated Anite.
The event will seek to attract FDI by promoting private and public partnerships with exportable products for the UAE and the Middle East. Notably, FDI from UAE to Uganda has surged from $300 million in 2018 to $3 billion in 2023, indicating significant growth in bilateral trade.
According to Uganda’s Ambassador to UAE, Zaake Kibedi, the value of goods and services exported from Uganda to UAE increased from $595 million in 2020 to $1 billion in 2021. Additionally, Uganda’s imports from UAE rose from $495 million in 2020 to $810 million in 2021.
The inaugural Uganda-UAE Business Forum was held in 2022 across four emirates of the UAE, including Abu Dhabi, Dubai, Sharjah, and Ras Al Khaimah. The event attracted participation from business leaders, private sector representatives, and senior government officials from both Uganda and the UAE.
As the 2nd edition approaches, expectations are high for forging stronger economic cooperation, exploring investment prospects, and deepening the mutually beneficial relationship between Uganda and the UAE.