According to UIA, the expo, which began on October 2021 and featured over 200 countries, was successful for Uganda.
Uganda concluded investments worth about $2 billion in different sectors of its economy in the Dubai Expo 2020, which ended on Saturday, March 26, 2022.
This was revealed by Morrison Rwakakamba, the Chairman Board of directors at Uganda Investment Authority (UIA) during the 2nd Uganda Tourism, Trade & Investment Forum that marked the end of the Expo at Hyatt Regency Hotel in Dubai, UAE, on Saturday.
“During the Expo 2020, Dubai, the Uganda Investment Authority, and the government of Uganda concluded investments worth $2 billion,” he said.
According to Rwakakamba, the expo, which began on October 2021 and featured over 200 countries, was successful for Uganda since they managed to secure different investment deals in different sectors of its economy.
“On behalf of Uganda Investment Authority, I want to congratulate the President of the Republic of Uganda supported by the abled team led by the Ambassador of Uganda to UAE and the private sector for successfully participating in the expo 2020 Dubai,” he told an audience that included diplomats, Uganda government officials and investors from the Middle East.
“The Expo 2020, Dubai signifies Uganda’s commitment to private sector development and indicates the renewed focus for further increased promotion of Uganda’s investment opportunities,” Mr Rwakakamba added.
He said Uganda’s investment climate is improving every other year, and called on investors to take advantage.
“Investment in Uganda is attractive because of the growing internal market of nearly 45 million people, strategically located in the heart of Africa with a combined population of over 700 million people in COMESA region,” he explained.
Uganda’s Ambassador to UAE Zaake Kibedi added that Uganda at Dubai World Expo 2020, attracted investments in agriculture, agro-processing, manufacturing, vaccine making, petroleum, solar & wind energy, medical oxygen, pharmaceuticals as well as trade opportunities.
Mr Okello Oryem, the Minister of State, Foreign Affairs, said that relations between Uganda and UAE have grown stronger and tighter and called upon the business community to take advantage of these agreements.
“You recall that UAE’s relationship with Uganda amounted to over USD 458 million in 2016, but it has now increased to over USB 1.850 billion,” he said.
“After our participation in the Expo 2020, most companies from the UAE are coming to Uganda to explore these opportunities,” he added.
Several sector players, ministry representatives, and agencies have been at the heart of organizing Uganda’s participation in the Dubai Expo 2020.