The inaugural Pearl of Africa Business Forum and Expo 2025, scheduled for April 23-24 in Kuala Lumpur, aims to catalyze trade and investment between Uganda and Malaysia, targeting a substantial US$5 billion in potential deals, notably in sectors like oil and gas exploration.
Dr. Betty Oyella Bigombe, Uganda’s High Commissioner to Malaysia, emphasized the event’s strategic importance in enhancing bilateral trade, projecting significant growth over the next five years.
“Uganda boasts abundant natural resources, a dynamic workforce, and a strategic position in East Africa, making it an attractive investment hub,” she stated during a press conference. “We view Malaysia as a pivotal partner and aim to showcase Uganda as a premier investment destination in Africa.”
Organized collaboratively by the Ugandan High Commission in Malaysia and the World-One Business Federation, the forum will spotlight key sectors:
Agriculture: As the cornerstone of Uganda’s economy, agriculture accounts for 53% of export earnings and employs over 73% of the populace. The country is renowned for its premium coffee and seeks investments in value addition, agro-processing, and organic fertilizer production to boost productivity and competitiveness.
Minerals: Uganda is endowed with rich mineral deposits, including gold, copper, and lithium. The government is actively pursuing partnerships in mineral exploration, extraction, and value addition to drive industrialization and economic transformation.
Oil and Gas: With ongoing developments in the Albertine Graben region, Uganda is positioning itself as a significant player in the oil and gas industry, offering opportunities for investment in refineries and logistics.
Science and Technology: The rapidly expanding ICT sector in Uganda presents avenues for collaboration in infrastructure development, as well as the software and hardware industries.
To facilitate these investments, Uganda has established special economic zones and industrial parks in areas such as Namanve, Mbale, and Kapeeka, along with free trade zones in Jinja and Entebbe.
Trade data from the Bank of Uganda indicates that in 2024, exports to Malaysia reached US$108.29 million, while imports from Malaysia stood at US$250.13 million.
The upcoming forum aspires to significantly elevate these figures, fostering a robust economic partnership between the two nations.
For more details, visit the original article here.
