Published on 23/04/2025
Pearl of Africa Business Forum and Expo has opened in Kuala Lumpur, Malaysia, with Uganda set on securing trade and investment potential of around USD 5 billion over the next five years.
A high-powered delegation led by the Finance Minister Hon. Matia Kasaija, comprises Energy Minister Hon. Ruth Nankabirwa, Agriculture Minister in charge of Animal Husbandry, Hon Bright Rwamirama, Uganda’s High Commissioner to Malaysia, Amb Betty O. Bigombe, Chamber of Commerce- President Olive Kigongo, Senior Presidential Adviser on Exports-Mrs. Susan Muhwezi and Chief of Protocol, Amb Charles Ssentongo.
The opening ceremony was graced by Hon. Yang Bhg Muhtar Hashim, Executive Director of the Chemical Industries Council of Malasyia. Muhtar informed the audience of the immense opportunities that Malaysia will tap into the various to drive trade between the two countries.
Speaking at the same Ceremony, Hon. Matia Kasaija said Uganda has a conducive climate investment that supports the most important needs of investors across board, including the legal framework.
Ruth Nankabirwa, the Energy Minister said Uganda continues to attract investment in the oil and gas sector. “Our policy is not to export any raw materials, so there is plenty of investment opportunities in mineral processing” adding that Uganda has a number of minerals and areas of investment. “Our iron ore is the best in the world, we have copper, oil, gold, several other minerals and are looking for investors in the sector,” Nankabirwa added.
Ambassador Betty Bigombe said the Trade and Investment Forum reflected our mutual commitment to deepening economic, trade, and investment ties between Uganda and Malaysia. “Today is more than just a business forum; it is a bridge between nations, between opportunity and ambition, and between vision and action.”
Bigombe gave rousing remarks about Uganda, which she said was blessed with vast natural resources, a youthful and energetic population, and a stable and liberalised economy. “Uganda is strategically positioned as a gateway to the East African Community (EAC), a vibrant market of over 300 million consumers, and to the Common Market for Eastern and Southern Africa (COMESA). Investors who choose Uganda will not just invest in one country; rather, they will access an entire regional market full of opportunity and potential.”
This Expo is themed “Unlocking Uganda’s Business Potential,” with a focus on five high-impact sectors that are central to our national development strategy: agro-industrialisation, tourism development, oil and gas, science and technology, and mineral development.
In agro-industrialisation, Bigombe said Uganda’s fertile land and diverse agricultural outputs provide immense opportunities for value addition, agro-processing, and export-driven agribusiness.
In tourism, she invited investment in eco-lodges, hospitality services, and tourism infrastructure to harness the potential of Ugandan national parks, including Kidepo Valley, Queen Elizabeth, Murchison Falls, and the breath-taking Rwenzori Mountains.
In the oil and gas sector, Uganda has made great strides, and several bankable projects are ready for investors. These include the East African Crude Oil Pipeline (EACOP), the development of an oil refinery in Hoima, and the construction of logistics hubs to support the petroleum value chain.
In science and technology, Uganda is driving digital transformation and innovation through ICT parks, youth innovation hubs, and the local assembly of tech devices.
In mineral development, Uganda is richly endowed with gold, cobalt, rare earth elements, and more, and we welcome investors for sustainable and value-added exploitation.
Amb. Bigombe highlighted Uganda Investment Authority’s role in establishing a one-stop centre to facilitate investors with licenses, land, tax advisory, and regulatory support.
Uganda permits 100% foreign ownership in most sectors, guarantees repatriation of profits, and offers tax holidays, customs exemptions, and infrastructure support for priority areas.
Furthermore, the UIA has also profiled over 120 bankable investment projects, spanning road infrastructure, tourism sites, agribusiness parks, and industrial parks across the country.
The two-day forum has attracted a number of private investors from Uganda and Malaysia.
