Uganda Seeks $5B Investment at Pearl of Africa Forum in Malaysia

The forum, which runs for two days, aims to unlock an estimated USD 5 billion in trade and investment opportunities over the next five years, targeting Malaysian and broader Asian investors.

Uganda has launched an ambitious investment drive with the opening of the Pearl of Africa Business Forum and Expo in Kuala Lumpur, Malaysia. The forum, which runs for two days, aims to unlock an estimated USD 5 billion in trade and investment opportunities over the next five years, targeting Malaysian and broader Asian investors.

Held under the theme “Unlocking Uganda’s Business Potential,” the Expo is drawing attention to Uganda’s growing portfolio of opportunities across five key sectors: agro-industrialisation, tourism, oil and gas, science and technology, and mineral development.

A High-Level Ugandan Delegation Champions the Investment Drive

Leading Uganda’s investment delegation is Finance Minister Hon. Matia Kasaija, who emphasized Uganda’s commitment to creating a friendly investment climate, noting that the country has established a supportive legal and policy framework that safeguards investor interests. The delegation also includes:

• Hon. Ruth Nankabirwa, Minister of Energy and Mineral Development

• Hon. Bright Rwamirama, Minister of State for Animal Industry

• Amb. Betty O. Bigombe, Uganda’s High Commissioner to Malaysia

• Ms. Olive Kigongo, President of the Uganda National Chamber of Commerce

• Mrs. Susan Muhwezi, Senior Presidential Adviser on Exports

• Amb. Charles Ssentongo, Chief of Protocol

The opening ceremony was graced by Hon. Yang Bhg Muhtar Hashim, Executive Director of the Chemical Industries Council of Malaysia, who welcomed Ugandan delegates and confirmed Malaysia’s interest in deepening bilateral trade cooperation.

Key Investment Sectors Unveiled

1. Oil and Gas

Energy Minister Ruth Nankabirwa highlighted Uganda’s strategy to ban the export of raw materials to encourage in-country processing and value addition. “Our iron ore is the best in the world. We have copper, oil, gold, and other critical minerals,” she said, inviting investors to tap into refining, smelting, and logistics.

Nankabirwa also spotlighted flagship projects including:

• The East African Crude Oil Pipeline (EACOP)

• The Hoima Oil Refinery

• Creation of logistics hubs to serve the petroleum supply chain

2. Mineral Development

Uganda boasts a range of untapped mineral wealth — from gold and copper to rare earth elements and cobalt. The government is offering favorable terms for sustainable exploitation, including incentives for companies that invest in mineral beneficiation and green extraction technologies.

3. Agro-Industrialisation

With vast stretches of fertile land and year-round favorable weather, Uganda is positioning itself as an agro-processing powerhouse. Opportunities exist in value addition, agricultural mechanization, post-harvest storage, and export-driven agribusiness.

4. Tourism Development

Uganda’s rich natural heritage is also a cornerstone of its investment strategy. Ambassador Bigombe encouraged development in:

• Eco-lodges and resort infrastructure

• Adventure and wildlife tourism

• National parks such as Kidepo Valley, Queen Elizabeth, and Murchison Falls

• Rwenzori Mountains, ideal for alpine tourism and trekking

5. Science, Technology, and Innovation

Uganda is rapidly digitizing, with investments in ICT parks, youth innovation hubs, and local assembly of tech devices. Government support includes infrastructure, training programs, and partnerships with global tech players.

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Uganda Offers Competitive Incentives to Global Investors

Uganda’s investment framework is among the most liberal in Africa. According to Ambassador Bigombe, the country permits 100% foreign ownership in most sectors, ensures unrestricted repatriation of profits, and offers:

• Tax holidays

• Customs duty exemptions

• Infrastructure support

• Access to a one-stop investment facilitation center operated by the Uganda Investment Authority (UIA)

The UIA has profiled over 120 bankable projects in various fields including road infrastructure, agribusiness parks, tourism sites, and industrial development zones, many of which are now open for Malaysian and other international investors.

Strategic Regional Access: EAC and COMESA

Ambassador Bigombe emphasized Uganda’s strategic position as a gateway to the East African Community (EAC) and the Common Market for Eastern and Southern Africa (COMESA). “Investors who choose Uganda don’t just tap into a single market — they gain access to over 300 million consumers across the region,” she noted.

She described the Forum as a bridge between vision and opportunity, asserting that partnerships formed here will not only benefit Uganda and Malaysia but also bolster regional economic growth and integration.

Strong Interest from Private Sector Players

The Expo has attracted notable private investors, trade delegations, and business associations from both Uganda and Malaysia. Attendees have expressed optimism about forming joint ventures, establishing supply chains, and exploring public-private partnerships in high-impact areas.

As the two-day Forum progresses, follow-up meetings and bilateral discussions are expected to shape long-term cooperation frameworks, particularly in infrastructure, energy, and technology.