The President of the Republic of Uganda Yoweri Kaguta Museveni will preside over the 2nd Edition of the Uganda – United Arab Emirates Business Summit currently happening at Resort Munyonyo.
The summit started on Tuesday 10 to 13 October 2023 at Speke Resort Munyonyo under the theme: “Uganda; the gateway of the UAE to the EAC region” is organized by Uganda Investment Authority (UIA) to boost Uganda’s exports.
The summit is also aimed at fostering Foreign Direct Investment (FDI) to promote tourism, facilitate technology transfers, and strengthen ties between the two nations.
The Minister for Investment and Privatization, Hon Evelyn Anite recently revealed that the key objective of the forum is to facilitate dialogue between the Ugandan government, business community and the UAE government and business community.
“The four-day event will provide a business meeting platform that will bring under one roof trade and investment policymakers, business leaders, trade support institutions, from Uganda and the UAE to network, exchange experiences and explore win-win investment and trade opportunities,” she noted.
The UIA’s Director General, Robert Mukiza further noted that the forum will seek to mobilize private and public investments in priority sectors in Uganda by presenting the investment opportunities offered by the country to UAE investors.
“It will provide UAE investors with a better understanding of the current business climate, the government’s vision, the export potential, and investment opportunities that Uganda offers, and opportunities for meetings with local entrepreneurs who have viable business projects and are interested in developing sustainable business relationships,” he said during a press briefing last week.
“The foreign participants will also meet with policy makers and support institutions that promote and facilitate investing in and exports Uganda” he added.
This year’s Forum is to maintain the momentum that was achieved as a result of Uganda’s participation at Dubai World Expo 2020 and to build on the success of the inaugural Business Forum that was held in 2022.
The Uganda Ambassador to UAE Zaake Kibedi mentioned that FDI from UAE to Uganda has surged from $300 million in 2018 to $3 billion in 2023. Bilateral trade has also seen substantial growth.
Uganda exported goods and services to UAE worth US$ 562 M in 2020, which increased to US$ 1 Billion in 2021 and imported goods and services from UAE worth US$ 46.5 M in 1997, which increased to US$ 1.04 Billion in 2022.
The Forum will be attended by approximately 200 participants from Uganda and UAE.