Finance Minister Matia Kasaija has reaffirmed Uganda’s commitment to deepening trade and investment relations with the United Arab Emirates (UAE), describing the Gulf nation as one of Uganda’s most strategic economic partners.
Officiating at the closure of the 4th Edition of the Uganda–UAE Business Forum at Speke Resort Munyonyo on Wednesday, Kasaija said Uganda has embarked on a forward-looking strategy to enhance trade, attract investments, and promote value-added exports.
He noted that Uganda offers one of the most attractive investment climates in the region, thanks to its stable macroeconomic environment, abundant resources, and pro-investment policies.
“Over the last three years, Uganda and the UAE have strengthened economic cooperation in a significant way. The UAE has not only become Uganda’s largest export destination but has also made major investments in our economy,” Kasaija said.
According to the minister, bilateral trade between Uganda and the UAE has reached USD 2.85 billion, while UAE investments have grown to USD 3.5 billion, particularly in sectors such as energy, infrastructure, healthcare, agribusiness, oil and gas, manufacturing, construction, real estate, and tourism.
He commended Uganda’s Mission in the UAE for promoting commercial and economic diplomacy through initiatives like the business forum.
PSST Ggoobi Woos UAE Investors with High Returns
The Permanent Secretary and Secretary to the Treasury (PSST), Ramathan Ggoobi, assured investors from the UAE of Uganda’s robust and investor-friendly economy, offering an average return on investment of 14% and a 30% return on equity for listed companies.
Speaking at the three-day forum, Ggoobi emphasized that Uganda’s macroeconomy is stable and well-managed, backed by a pro–private sector government that provides generous incentives to investors.
“Our pledge to you is that we shall do whatever is necessary to facilitate your investment,” Ggoobi said.
He revealed that Uganda’s economy grew by 6.3% in FY 2024/25 and is projected to expand to 7% in FY 2025/26. The economy’s current size stands at USD 61.3 billion, with the National Development Plan IV anchored on the Tenfold Growth Strategy, aiming to grow Uganda’s economy to USD 500 billion within the next 15 years.
Ggoobi also urged investors to explore opportunities in Uganda’s four priority growth areas, Agriculture, Tourism, Minerals, and Services (ATMS) as well as in the enabling sectors that support them.
He assured the forum that the Uganda Shilling remains the most stable currency in Africa, while inflation has remained below the 5% target.
Uganda’s exports reached USD 13.4 billion last year, led by gold and coffee, with a balance of payments surplus of USD 1 billion. Additionally, foreign direct investment inflows stood at USD 3.7 billion, while tourism receipts amounted to USD 1.5 billion, both projected to continue growing.
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