Munyonyo — Bilateral trade between Uganda and the United Arab Emirates (UAE) has reached $2.85 billion, while UAE investments in Uganda have climbed to $3.5 billion, underscoring the rapid growth of economic relations between the two nations.
The figures were revealed during the Fourth Uganda–UAE Business Forum, currently taking place at Speke Resort Munyonyo in Kampala under the theme “Let’s Grow Together.” The three-day event, running from October 27 to 29, has brought together government officials, diplomats, and business leaders from both countries to explore new investment opportunities in trade, tourism, energy, infrastructure, and technology.
Uganda’s Ambassador to the UAE, H.E. Zaake W. Kibedi, emphasised that the partnership between the two nations has matured into a dynamic and strategic alliance rooted in shared prosperity.
“When I arrived in the UAE in 2018, trade between our countries stood at $600 million. Today, it has grown to $2.85 billion, making the UAE Uganda’s number one export destination,” Ambassador Kibedi said. “UAE investments in Uganda are now valued at $3.5 billion. This is a testament to trust, consistency, and mutual benefit.”
He noted that the UAE’s transformation story offers lessons for Uganda’s development aspirations.
“In 1970, Uganda’s economy was larger than that of the UAE. Today, theirs stands at $537 billion while ours is $65 billion,” he remarked. “This shows us that rapid transformation is possible. With continued collaboration, Uganda can achieve its Tenfold Strategy and become a $500 billion economy in the years ahead.”
The Ambassador highlighted several major UAE-backed projects in Uganda, including the construction of Uganda’s third international airport, Amea Power’s 200MW hybrid solar-wind project in Karamoja, and Modern Group’s new sugar factory in Nwoya, which will be the country’s largest. Other notable investors include Metro Cements, DP World, and Alpha MBM, which is partnering on Uganda’s oil refinery in Buliisa.
Kibedi also announced that the Uganda Business Centre in the UAE is now operational to support exporters, SMEs, and investors in accessing market intelligence, trade facilitation, and quality assurance.
Calls for Deeper Institutional Cooperation
Ambassador Henry Mayiga called for the establishment of a Joint Permanent Commission (JPC) between Uganda and the UAE to formalise and expand cooperation frameworks.
“It may be time for us to take this collaboration a little further,” Mayiga said. “A Joint Permanent Commission would enable us to create a comprehensive agreement covering key areas of mutual interest such as trade, investment, infrastructure, and technology.”
He applauded the forum’s continuity, saying that the fourth edition marks “a journey of four steps” toward realising the full potential of the Uganda–UAE partnership.
Investment and Business Facilitation
Representing the Uganda Investment Authority (UIA), Mr Peter Muramira, Deputy Director for Business Development, reaffirmed Uganda’s readiness to host UAE investors.
“Uganda today stands out as one of the most secure and stable countries in the region,” Muramira said. “Over 1,000 UAE businesses are already operating here, and more than 50 have licensed investments across various sectors. We invite more investors to take advantage of Uganda’s incentives, such as tax holidays, profit repatriation, and duty-free importation of machinery.”
Uganda has licensed 22 UAE companies with a planned capital investment of USD 170.6 million, projected to create 1,272 jobs, according to UIA. The firms span manufacturing, agriculture, ICT, logistics, construction, and real estate.
Muramira added that Uganda’s strategic location at the heart of the East African Community (EAC) and COMESA provides access to a market of over 300 million people, with additional reach through the African Continental Free Trade Area (AfCFTA).
Private Sector Urges Action
In his remarks, Mr Stephen Joseph Kalibbala Mpagi, Vice President of the Uganda National Chamber of Commerce and Industry (UNCCI), urged stakeholders to move beyond dialogue and focus on practical implementation.
“Let’s stop making promises and start making money—together,” Kalibbala said. “Uganda is cooked and ready to be served. We have the infrastructure, stability, and talent. What we need now is execution—turning partnerships on paper into factories, jobs, and exports.”
He pointed to energy, manufacturing, and skills development as priority areas for partnership, noting that Uganda’s growing energy demand presents lucrative opportunities for investors in power generation and renewable energy.
UAE Commits to Stronger Cooperation
Leading the UAE delegation, H.E. Sultan Jemai Al Hindas, Director General of the Fujairah Chamber of Commerce and Industry, expressed optimism about the future of Uganda–UAE relations.
“This is my first time in Uganda, and I am very impressed. It is a beautiful and welcoming country,” he said. “We look forward to building stronger cooperation with Uganda in trade, tourism, logistics, and industry. The Fujairah Chamber is ready to support and facilitate any partnerships that emerge from this forum.”
The Uganda–UAE Business Forum, organised jointly by the Uganda Embassy in Abu Dhabi, the Uganda Consulate in Dubai, and the UAE Embassy in Kampala, has become a flagship platform for bilateral economic diplomacy.
Since its inception in 2022, the forum has rotated between Kampala and various Emirates, driving new trade deals, joint ventures, and policy frameworks. The 2025 edition features business-to-business (B2B) and government-to-business (B2G) sessions, field visits, and sector-specific roundtables.
