Uganda is undergoing significant economic transformation, powered by its developing oil and gas sector, a renewable energy drive and its thriving relationship with the UAE.

In November 2023, President Yoweri Kaguta Musev-eni of Uganda made a second trip of the year to the UAE, at the invitation of President His Highness Shaikh Mohammad Bin Zayed Al Nahyan, for talks aimed at further deepening diplomatic and economic ties. Discussions between the leaders covered a range of topics, including investment opportunities, sustaina-bility and renewable energy, marking the growing areasof cooperation between the two nations.

“The relationship between Uganda and the UAE has gone from strength to strength in economics, commerce, and trade,” says Zaake Kibedi, Am-bassador of the Republic of Uganda to the UAE. According to figures quoted by Kibedi, foreign direct investment (FDI) by the UAE in Uganda has surged from US$300 million in 2018 to US$3

billion today, while Uganda’s exports to the UAE have doubled to US$1.2 billion. Recent bilater-al memoranda of understanding signed to cover areas including labour cooperation, agriculture,investment protection and taxation provide scope for further trade and investment growth. “I want Uganda to be known as a country that can offer the best opportunities for Emirati and UAE companies in Africa,” Kibedi continues.

billion today, while Uganda’s exports to the UAE have doubled to US$1.2 billion. Recent bilater- al memoranda of understanding signed to cover areas including labour cooperation, agriculture, investment protection and taxation provide scope for further trade and investment growth. “I want Uganda to be known as a country that can offer the best opportunities for Emirati and UAE companies in Africa,” Kibedi continues.

One of the top investment priorities for Uganda’s leaders is infrastructure, particularly in transport. “Our Ministry aims to develop safe, reliable infra-structure and an integrated transport system to boost economic development,” explains Minister of Works and Transport Edward Katumba Wamala.