KAMPALA, Uganda — Uganda and the United Arab Emirates are significantly deepening their economic partnership, with bilateral trade and UAE investment now estimated to total $6.3 billion.
The figure was highlighted at the Fourth Uganda–UAE Business Forum, a high-level, three-day event held at Speke Resort Munyonyo that brought together more than 300 delegates. The forum focused on reinforcing cooperation in energy, infrastructure, agribusiness and finance.
Prime Minister Robinah Nabbanja announced in a keynote address that the UAE had become Uganda’s largest export destination, with bilateral trade reaching $2.85 billion as of September 2025.
“The value of UAE investment in Uganda’s energy, infrastructure, agribusiness, oil and gas, manufacturing, real estate, and tourism sectors has reached $3.5 billion,” Nabbanja said.
She stressed the nation’s ambitious plan to expand its economy tenfold, from $61.3 billion to $500 billion by 2040, as it seeks to transition from lower-middle-income to upper-middle-income status.
“We invite our partners from the United Arab Emirates to join us on this transformative journey,” she added.
### Focus on new investment opportunities
State Minister for Investment Evelyn Anite urged UAE investors to target new growth areas, specifically calling for affordable credit financing for Ugandan entrepreneurs.
“Our biggest constraint is access to credit,” Anite said. “We know you have cheap capital in the UAE — bring affordable financing so our small and medium enterprises can scale up production.”
Anite also sought partnerships for mineral value addition and the development of inland water transport through modernizing vessels, upgrading ports and enhancing waterworks on Lakes Victoria, Kyoga and Albert. She guaranteed investors freedom and stability, noting, “Uganda’s liberalized economy guarantees freedom and stability for investors.”
Further cementing the strong economic relationship, Zaake Wanume Kibedi, Uganda’s ambassador to the UAE, said the partnership is moving from traditional trade to strategic co-investment in infrastructure, renewable energy and agro-industrialization.
He attributed the exponential trade growth — from just over $300 million in 2018 to $2.85 billion today — to diplomatic engagement and consistent investor confidence.
Peter Muramira, director at the Uganda Investment Authority, said Uganda is transitioning to an energy-secure economy backed by a $70 billion investment portfolio. This includes major projects such as the $30 billion Buyende Nuclear Power Plant. Muramira emphasized that the government is seeking partners who bring capital, technology and expertise.
Patrick Ayota, managing director of the National Social Security Fund, highlighted the strength of the national currency, noting the Uganda shilling has appreciated against the U.S. dollar over the past five years — a sign of confidence in the country’s fundamentals. He added that NSSF is working with UAE institutions to co-invest in agriculture to position Uganda as a production hub.
The forum, organized by Uganda’s missions in Abu Dhabi and Dubai with partners, will continue on Wednesday, Oct. 29, 2025, with sectoral panels and business-to-business meetings.
