By Diana Kintu
Uganda’s economic partnership with the United Arab Emirates (UAE) has reached new heights, with the Gulf nation now standing as Uganda’s largest export destination and one of its top investors. This milestone was underscored during the 4th Uganda–UAE Business Forum held in Kampala, where senior government officials celebrated the rapid growth of bilateral trade and investment between the two countries.
Finance Minister Matia Kasaija announced that trade between Uganda and the UAE has surged to $2.85 billion, a clear reflection of the growing trust and cooperation between the two economies. He further revealed that UAE investments in Uganda have now reached $3.5 billion, channelled into vital sectors such as energy, infrastructure, healthcare, agribusiness, and tourism.
“Over the last three years, Uganda and the UAE have strengthened economic cooperation in a significant way,” Minister Kasaija said. “Uganda offers one of the most attractive investment climates in the region, and we are ready to welcome more investors from the UAE.”
The Forum, which brought together high-level government officials, investors, and business leaders from both countries, was aimed at identifying new areas of collaboration to advance shared economic growth and innovation. The event marked another step forward in a relationship that has evolved from trade discussions to tangible investments and partnerships.
Permanent Secretary to the Treasury, Ramathan Ggoobi, reinforced Uganda’s strong economic fundamentals, assuring potential investors of macroeconomic stability and a favourable business environment. He noted that the Uganda Shilling remains one of the most stable currencies on the continent, while inflation has been kept within manageable levels.
Ggoobi revealed that Uganda’s exports in the past year were valued at $13.4 billion, contributing to a healthy balance of payments surplus of $1 billion. He attributed this performance largely to the export of gold and coffee; the country’s leading foreign exchange earners.
He further pointed out that Foreign Direct Investment (FDI) inflows reached $3.7 billion in the 2024/2025 financial year, while tourism receipts amounted to $1.5 billion, reflecting strong post-pandemic recovery and investor confidence in Uganda’s economy.
Prime Minister Rt. Hon. Robinah Nabbanja, who officially opened the forum, personally welcomed the UAE business community and encouraged them to seize the numerous opportunities that Uganda presents. She described Uganda as a stable, resource-rich, and investor-friendly destination ready to drive Africa’s next growth chapter.
The Ministry of Foreign Affairs also emphasised that Uganda’s engagement with the UAE now extends beyond traditional sectors. “From trade to tourism, renewable energy to technology, Uganda is redefining investment in Africa,” the Ministry stated on its official X (formerly Twitter) account.
Government officials reiterated Uganda’s commitment to fostering partnerships that create jobs, promote industrialisation, and add value to raw materials. With more than 1,000 UAE businesses already operating in Uganda, the collaboration between the two countries continues to expand as a cornerstone of Uganda’s broader vision for shared prosperity.
The 4th Uganda, UAE Business Forum closed with a renewed pledge from both governments to build on this momentum and transform economic cooperation into sustainable, long-term development.