Dubai Chambers, Uganda forge new business partnership

Kampala, Uganda – Dubai Chambers has signed a Memorandum of Understanding (MoU) with the Uganda Chamber of Commerce and Industry to strengthen business ties between Uganda and Dubai. The agreement, signed during a bilateral business forum in Kampala, aims to enhance collaboration and explore new investment opportunities.

Organized by Dubai International Chamber, one of the three chambers under Dubai Chambers’ umbrella, the forum marks the first leg of a trade mission to Uganda and Tanzania. The event received support from the Embassies of the United Arab Emirates in Kampala and the Republic of Uganda in the UAE, along with the Uganda National Chamber of Commerce and Industry, the Uganda Investment Authority, and the Private Sector Foundation Uganda.

The MoU outlines plans to promote cooperation between companies from both regions, facilitating trade missions, conferences, and business events. It also emphasizes the exchange of knowledge and expertise, consulting on business policies, and exploring bilateral investment opportunities.

Keynote speakers included Olive Kigongo, President of the Uganda National Chamber of Commerce and Industry, and Robert Mukiza, Director General of Uganda Investment Authority. The forum attracted senior officials, business leaders, and Ugandan companies keen to partner with the Dubai delegation, which featured representatives from 29 Dubai-based businesses across various industries.

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, expressed his commitment to strengthening Dubai’s global trade and investment partnerships. “Supporting companies from Dubai to grow and expand globally across diverse sectors remains a priority. This contributes to enhancing Dubai’s foreign trade and consolidating its position as a leading global business hub,” he stated.

According to Dubai Customs data, non-oil trade between Uganda and Dubai reached US$ 1.2 billion in 2023. As of September 2024, 148 Ugandan businesses were registered members of the Dubai Chamber of Commerce, with 60 joining in the first nine months of the year.

Dubai Chambers presented Dubai’s economic landscape at the forum, highlighting the emirate’s competitive advantages and opportunities for Ugandan businesses and investors. Uganda’s investment prospects in tourism, agriculture, mining, ICT, electronics, and infrastructure were showcased as promising areas for collaboration.

Uganda’s Prime Minister, Robinah Nabbanja, welcomed the MoU, underscoring the government’s dedication to attracting investors. “The agreement signed between Dubai Chambers and the Uganda Chamber of Commerce and Industry aims to promote and protect investments. I believe this forum will facilitate dialogue between the Ugandan and UAE governments and the business community, fostering new investments and partnerships for mutual benefit.”

The Dubai delegation included companies from sectors such as construction, engineering, food and beverages, storage, retail, oil and gas, electrical appliances, healthcare, energy, automotive, agritech, and information technology, underscoring the diverse opportunities for bilateral trade and investment.