The Pearl of Africa Business Forum and Expo has officially opened in Kuala Lumpur, Malaysia, with Uganda aiming to secure trade and investment deals worth up to USD 5 billion over the next five years. A high-powered delegation led by Uganda’s Finance Minister, Hon. Matia Kasaija, is spearheading the initiative, which seeks to strengthen economic ties between the two nations. The delegation includes key figures such as 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 attended by Hon. Yang Bhg Muhtar Hashim, the Executive Director of the Chemical Industries Council of Malaysia, who emphasized the vast opportunities available for trade between Uganda and Malaysia. He expressed optimism about the potential for mutual economic growth through strengthened business partnerships.

Finance Minister Matia Kasaija highlighted Uganda’s favorable investment climate, which includes a robust legal framework designed to protect and support investors. He assured potential investors of Uganda’s commitment to creating a business-friendly environment that encourages long-term growth and profitability.

Energy Minister Ruth Nankabirwa pointed out Uganda’s growing oil and gas sector as a key area for investment. She stressed that Uganda’s policy is to avoid exporting raw materials, creating numerous opportunities for investors in mineral processing. “Our iron ore is the best in the world,” she said. “We also have copper, oil, gold, and several other minerals. We are actively seeking investors to develop these resources.”

Ambassador Betty Bigombe delivered an inspiring speech, describing the forum as a bridge between Uganda and Malaysia, connecting opportunity with ambition. She emphasized Uganda’s strategic advantages, including its vast natural resources, young and energetic workforce, and stable economy. “Uganda is not just a market of 45 million people,” she said. “It is a gateway to the East African Community, a market of over 300 million consumers, and the Common Market for Eastern and Southern Africa (COMESA). Investing in Uganda means accessing an entire regional market full of potential.”

The expo, themed “Unlocking Uganda’s Business Potential,” focuses on five key sectors: agro-industrialisation, tourism development, oil and gas, science and technology, and mineral development. Each of these sectors presents unique opportunities for investors looking to tap into Uganda’s growing economy.

In agro-industrialisation, Uganda’s fertile land and diverse agricultural outputs provide ample opportunities for value addition, agro-processing, and export-driven agribusiness. The country produces a wide range of crops, including coffee, tea, fruits, and grains, all of which can be processed for higher returns.

Tourism is another sector ripe for investment. Uganda boasts stunning national parks such as Kidepo Valley, Queen Elizabeth, Murchison Falls, and the Rwenzori Mountains. Ambassador Bigombe invited investors to explore opportunities in eco-lodges, hospitality services, and tourism infrastructure to cater to the growing number of visitors.

The oil and gas sector remains a major attraction for investors, with Uganda making significant progress in recent years. Key projects such as the East African Crude Oil Pipeline (EACOP), the development of an oil refinery in Hoima, and the construction of logistics hubs are all open for investment. These projects are expected to drive economic growth and create thousands of jobs.

In science and technology, Uganda is embracing digital transformation through ICT parks, youth innovation hubs, and the local assembly of tech devices. The government is keen on partnering with investors to develop this sector, which is crucial for the country’s modernization and competitiveness in the global market.

Mineral development is another area where Uganda is seeking investment. The country is rich in gold, cobalt, rare earth elements, and other minerals. Investors are encouraged to engage in sustainable mining and value addition to maximize the benefits of these resources.

To facilitate investment, the Uganda Investment Authority (UIA) has established a one-stop centre that provides services such as licensing, land acquisition, tax advisory, and regulatory support. Uganda allows 100% foreign ownership in most sectors, guarantees the repatriation of profits, and offers incentives such as tax holidays and customs exemptions.

The UIA has also identified over 120 bankable investment projects across the country, including road infrastructure, tourism sites, agribusiness parks, and industrial parks. These projects are designed to attract both local and international investors looking to capitalize on Uganda’s economic potential.

The two-day forum has drawn significant interest from private investors in Uganda and Malaysia, with many expressing optimism about the future of trade relations between the two countries. As the expo continues, Uganda is poised to showcase its vast opportunities and solidify its position as a prime destination for investment in Africa.

With its strategic location, abundant resources, and investor-friendly policies, Uganda is ready to welcome Malaysian businesses and investors to explore the untapped potential of the Pearl of Africa. The success of this expo could mark the beginning of a new era of economic collaboration between Uganda and Malaysia, unlocking billions in trade and investment over the coming years.