Uganda Eyes $5 Billion Trade Boost at Pearl of Africa Business Forum in Malaysia
Uganda is positioning itself to unlock trade and investment opportunities worth approximately USD 5 billion over the next five years, following the successful launch of the Pearl of Africa Business Forum and Expo in Kuala Lumpur, Malaysia.
The high profile event, led by a Ugandan delegation headed by Finance Minister Hon. Matia Kasaija, included other key government officials like the Energy Minister Hon. Ruth Nankabirwa, State Minister for Agriculture in charge of Animal Husbandry Hon. Bright Rwamirama, Uganda’s High Commissioner to Malaysia Amb. Betty O. Bigombe, President of the Uganda National Chamber of Commerce and Industry Olive Kigongo, Senior Presidential Adviser on Exports Mrs. Susan Muhwezi, and Chief of Protocol Amb. Charles Ssentongo.
The opening ceremony was officiated by Hon. Yang Bhg Muhtar Hashim, Executive Director of the Chemical Industries Council of Malaysia, who underscored Malaysia’s interest in leveraging opportunities for stronger trade ties with Uganda.
Speaking at the event, Finance Minister Kasaija assured investors of Uganda’s favorable investment climate, backed by a robust legal framework and government policies tailored to meet investor needs.
Energy Minister Nankabirwa echoed this sentiment, emphasizing Uganda’s commitment to industrialization in the extractives sector. “We don’t export raw materials,” she said. “We encourage investment in value addition. Our iron ore is among the best globally, and we’re rich in minerals like copper, gold, and oil. The sector is wide open for sustainable investment.”
Ambassador Bigombe described the forum as more than a business event, calling it “a bridge between nations, opportunity and ambition, vision and action.” She spoke passionately about Uganda’s abundant natural wealth, youthful population, and liberalized economy, adding that Uganda offers access to the larger East African Community (EAC) and the Common Market for Eastern and Southern Africa (COMESA), totaling over 300 million consumers.
Under the theme “Unlocking Uganda’s Business Potential”, the Expo focuses on five priority sectors, agro-industrialisation, tourism development, oil and gas, science and technology, and mineral development all aligned with Uganda’s national development agenda.
Amb. Bigombe highlighted key opportunities such as the Agro-industrialisation, Uganda’s fertile soils and diverse crops provide vast opportunities for agro processing and export led agribusiness. Tourism, Investment is encouraged in eco lodges, hospitality, and infrastructure around natural gems like Kidepo Valley, Queen Elizabeth, and Murchison Falls national parks, as well as the majestic Rwenzori Mountains.
Oil and Gas: Uganda’s petroleum sector is progressing with major projects such as the East African Crude Oil Pipeline (EACOP), the Hoima oil refinery, and logistics hubs supporting the oil value chain.
Science and Technology, Uganda is investing in ICT parks, youth innovation hubs, and local tech manufacturing to foster a digital economy. Mineral Development, the country is endowed with gold, cobalt, rare earth elements, and more all ripe for value-added investment.
Amb. Bigombe also spotlighted the Uganda Investment Authority’s (UIA) one stop center, designed to streamline investor services such as licensing, land access, tax advisory, and regulatory support. Uganda’s investor friendly policies include 100% foreign ownership in most sectors, profit repatriation guarantees, tax holidays, customs exemptions, and infrastructure support for strategic industries.
UIA has already profiled over 120 bankable investment projects across roads, tourism, agribusiness, and industrial development.
The two day forum also attracted a wide range of private sector participants from both Uganda and Malaysia, all exploring new pathways for collaboration and growth.
With its strong pitch, Uganda is poised to deepen bilateral ties and catalyze a new era of trade and investment between the two nations.
