KUALA LUMPUR, MALAYSIA — Uganda has set an ambitious target: attracting $5 billion in investment over the next five years. The nation launched its Pearl of Africa Business Forum and Expo in Kuala Lumpur with a high-level delegation led by Finance Minister Matia Kasaija, determined to sell Uganda’s vast potential to Malaysian investors.
Backed by a strong lineup of ministers and business leaders, Uganda is positioning itself as Africa’s next big investment destination.
The pitch? A youthful population, vast natural resources, a liberalized economy, and access to a regional market of over 300 million consumers through the East African Community (EAC) and COMESA.
“Uganda offers a favorable investment climate with a supportive legal framework,” said Kasaija during the forum’s opening.
A Strategic Push for Oil, Agro, and Tourism
Energy Minister Ruth Nankabirwa spotlighted the oil and gas sector, emphasizing Uganda’s policy of processing raw materials locally.
With rich deposits of iron ore, copper, and gold, the country is looking to turn its underground wealth into above-ground prosperity.
From agriculture to tourism, Uganda laid out bankable opportunities in key sectors:
- Agro-processing: With fertile soil and a supportive climate, Uganda is ripe for investment in food processing and value addition.
- Tourism infrastructure: Uganda’s national parks and wildlife are globally renowned, but the country wants investment in eco-lodges, roads, and tour services.
- Oil & gas megaprojects: These include the East African Crude Oil Pipeline (EACOP) and a proposed oil refinery, promising returns for early movers.
Uganda’s Ambassador to Malaysia, Betty O. Bigombe, stressed that this forum is more than talk—it’s a bridge between two economies with shared goals.
“Uganda is open for business,” Bigombe told investors. “We welcome sustainable investments that help grow our economy while delivering real value to investors.”
One-Stop Investment Shop
Uganda is making it easier for international businesses to come in. Through the Uganda Investment Authority, the country offers a one-stop center that assists with licensing, tax guidance, and other key services. Incentives include:
- Full foreign ownership in most sectors
- Profit repatriation guarantees
- Tax holidays for priority investments
More than 120 investment-ready projects are currently listed, spanning agriculture, energy, minerals, ICT, and infrastructure.
Private sector representatives from both countries are actively engaging during the two-day forum, which wraps up with site visits and matchmaking sessions.
With clear policies, accessible markets, and untapped resources, Uganda is no longer just pitching opportunity—it’s laying down a challenge to Malaysia’s business elite: be part of Africa’s next economic success story.
