Kampala — Ramathan Ggoobi, Permanent Secretary and Secretary to the Treasury, has outlined key Ugandan investment pillars and explained why Uganda offers one of the highest returns on investment on the continent.
“Our economy is among the fastest-growing in Africa, with stable inflation, a resilient currency, and a young, skilled population. Uganda offers one of the highest returns on investment on the continent,” Ggoobi said as the 4th Uganda-UAE Business Forum concluded in Munyonyo on Wednesday.
In his keynote address, Ggoobi showcased Uganda’s strong economic fundamentals and vision for sustainable growth.
He outlined four key investment pillars: agriculture, tourism, minerals, and manufacturing (the ATMs) describing them as engines of transformation that will propel Uganda toward its goal of a $500 billion economy within the next 15 years. “We are open, ready, and determined to work with investors who share our vision. Uganda is not just a destination; it is a gateway to Africa’s 800 million consumers,” Ggoobi added.
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After four days of dynamic engagement, field visits, and high-level dialogue, the 4th Uganda-UAE Business Forum concluded, reaffirming the growing economic and diplomatic partnership between Uganda and the United Arab Emirates.
Held under the theme “Unlocking Opportunities, Building Bridges through Trade and Investment”, the forum brought together senior government officials, business leaders, investors, and development partners from both nations to explore emerging opportunities across key sectors including agriculture, tourism, energy, technology, infrastructure, and real estate. The event, organized jointly by the Ministry of Foreign Affairs of Uganda, Uganda Investment Authority, and the Uganda Embassy in Abu Dhabi, served as a platform to strengthen bilateral cooperation and encourage mutually beneficial partnerships.
In his closing remarks, Uganda’s Ambassador to the UAE, Zaake Kibedi, applauded participants for their engagement and commitment, emphasizing that Uganda’s relationship with the UAE continues to deepen with tangible economic results. “This event marks another milestone in our shared journey. Each year, our partnership grows stronger, attracting more investments and creating new opportunities. Uganda remains open for business, and we are committed to nurturing partnerships that deliver real value for both our nations,” said Ambassador Kibedi. He revealed that bilateral trade between Uganda and the UAE has grown from USD 600 million in 2018 to USD 2.85 billion by 2024, while investment inflows from the UAE have tripled within the same period.
Representing the Ministry of Trade, Industry and Cooperatives, Gen. (Rtd.) Wilson Mbadi emphasized the need to convert discussions into tangible investment projects. “These past days have been filled with vibrant discussions and powerful ideas that will strengthen the bridge between Uganda and the United Arab Emirates. What matters now is translating those ideas into lasting partnerships that benefit our people and our economies,”he noted.
During the panel on “Facilitating Doing Business in Uganda”, Benon Moses Kigenyi, Deputy Executive Director of Kampala Capital City Authority (KCCA), showcased Kampala’s ambitious transformation agenda and urban investment opportunities. “Kampala is a growing city with enormous potential. We are opening new spaces for investment in infrastructure, transport, housing, lighting, and waste management to build a smart, green, and inclusive city.”
He revealed that KCCA’s Integrated Urban Development Master Plan, valued at USD 3 billion, provides a roadmap for private sector partnerships in sustainable urban growth and modernization.
In his closing address on behalf of the Minister of Foreign Affairs, Ambassador Charles Sentongo, Head of Protocol at the Ministry, underscored the growing role of Uganda’s missions abroad in promoting economic diplomacy. “Our missions are not only about protocol they are about progress. They help identify opportunities for trade, investment, and partnerships that advance our national interests and connect Ugandans to the global economy,” Ambassador Sentongo said. He urged Ugandans in the diaspora to continue engaging with embassies and consulates for business, documentation, and consular support, assuring that Uganda’s diplomatic service remains committed to responsive, transparent, and investor-focused facilitation.
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As the curtains fell on the 4th Edition of the Uganda-UAE Business Forum, participants agreed that the Uganda-UAE Business Forum has become a cornerstone of mutual prosperity, providing a trusted bridge between Africa and the Gulf.
“Uganda’s story is just beginning. With every forum, Uganda takes one step closer to becoming Africa’s next major investment destination. The next edition of the Uganda-UAE Business Forum will focus on innovation, climate-smart investment, and youth enterprise.”
