Uganda Eyes $5bn in Trade and Investment as Pearl of Africa Business Expo Opens in Malaysia

The Pearl of Africa Business Forum and Expo officially opened in Kuala Lumpur, Malaysia, with Uganda aiming to unlock up to USD 5 billion in trade and investment opportunities over the next five years.

A high-level Ugandan delegation led by Finance Minister Hon Matia Kasaija includes Energy Minister Hon Ruth Nankabirwa, Minister of State for Animal Industry Hon Bright Rwamirama, Head of Regional Economic Cooperation at Uganda’s Ministry of Foreign Affairs, Amb Richard Kabonero, High Commissioner to Malaysia Amb Betty Bigombe, Uganda Chamber of Commerce President Olive Kigongo, Senior Presidential Adviser on Exports and Chairlady of Uganda Hotel Owners Association (UHOA), Mrs Susan Muhwezi, and Chief of Protocol Amb. Charles Ssentongo.

The opening ceremony featured Hon Yang Bhg Muhtar Hashim, Executive Director of the Chemical Industries Council of Malaysia, who emphasised Malaysia’s interest in expanding trade with Uganda.

Finance Minister Kasaija described Uganda as an investor-friendly destination with a stable macroeconomic environment and a strong legal framework. “We have built an investment climate that meets the core needs of investors,” he said.

Energy Minister Nankabirwa highlighted Uganda’s mineral wealth, particularly in oil, gas, and iron ore. “Our policy discourages raw material export. We’re focused on value addition and are open to investors in processing and refining,” she said.

Amb. Bigombe underscored the forum’s strategic importance, calling it “a bridge between nations, between opportunity and ambition.”

She praised Uganda’s natural resources, dynamic youth population, and liberalised economy, emphasising the country’s role as a gateway to the East African Community (EAC) and COMESA markets, offering access to over 300 million consumers.

Themed “Unlocking Uganda’s Business Potential,” the Expo is centred on five key sectors: agro-industrialisation, tourism, oil and gas, science and technology, and mineral development.

Bigombe highlighted: agro-industrialisation — Uganda’s fertile land supports value-added agribusiness and export-driven farming; Tourism — Investment opportunities abound in eco-lodges, hospitality, and park infrastructure across iconic destinations like Kidepo, Queen Elizabeth, Murchison Falls, and the Rwenzori Mountains; Oil and Gas — Bankable projects include the East African Crude Oil Pipeline (EACOP), a refinery in Hoima, and logistics hubs; Science & Technology — Uganda is advancing ICT through innovation hubs and tech manufacturing and Mineral Development — Uganda seeks sustainable investment in gold, cobalt, rare earth elements, and more.

She also emphasised the Uganda Investment Authority’s one-stop centre for investor facilitation—providing licenses, land access, tax advisory, and regulatory support.

Uganda allows 100% foreign ownership in most sectors, guarantees profit repatriation, and offers tax holidays and infrastructure incentives. Over 120 bankable projects have been profiled for investors, including tourism sites, agribusiness zones, and industrial parks.

The two-day forum has attracted strong participation from both Ugandan and Malaysian private sector investors, setting the stage for deeper economic collaboration between the two nations.