Uganda has been recognised and awarded as the best investment destination in the East Africa region at the Annual Investment Meeting (AIM) in Abu Dhabi, UAE.
The award was received by the director of Uganda Investment Authority (UIA), Mr. Robert Mukiza, at the ceremony held on Monday (May 8) evening at the Emirates Palace Hotel.
The AIM Global 2023 Investment Awards aimed at recognizing the best performing investment promotions agencies across the global.
“Uganda Investment Authority has won the award for the Best Investment in East Africa. This is because we brought the best investment in the region,” said Mr. Mukiza after receiving the award.
“Uganda is the premier investment destination in the region as per this award. I am very glad that we have been recognised at this level for bringing the best investment in East Africa.”
He added: “I would like to thank the President of Uganda, HE Yoweri Kaguta Museveni for making Uganda a safe a secure country for investment, thereby making us the premier investment destination in the East Africa region.”
Uganda has attracted more than US ($)1 billion in Foreign Direct Investments (FDI) from the UAE over the past 18 months, according to the Ugandan embassy in the UAE.
A delegation from Uganda, which is being led by the Ugandan Embassy in Abu Dhabi, is participating in the Annual Investment Meeting (AIM) which is kicked off in Abu Dhabi on May 8 and will run until May 10.
The aim is to attract foreign direct investment (FDI) and promote Uganda’s exports and tourism.
“We are participating in this global event to promote Uganda’s economic and commercial diplomacy,” Zaake W. Kibedi, the Ambassador of Uganda to the UAE said to the press at Uganda’s booth at the AIM.
“We have also invited other government institutions, including the Uganda Export Promotion Board, Uganda Free Zones Authority, Uganda Investment Authority (UIA) and Uganda Wildlife Authority to work with us to achieve this goal.”
The Annual Investment Meeting, a leading platform for investors in the world, is being held under the theme: “The Investment Paradigm Shift: Future Investment Opportunities to Foster Sustainable Economic Growth, Diversity and Prosperity”.
Over 170 countries have taken part in this global investment meeting and exhibition.
Uganda’s participation in the AIM Global 2023 aimed at attracting foreign direct investments to the country’s vital economic sectors, increasing the private sector contribution to boosting sustainable development and increasing the nation’s GDP.
“We are attracting investments in agro-industry, infrastructure, energy amongst others. But also trying to make contacts that can help us to enhance on our markets for Ugandan exports as well as promoting tourism,” added Mr. Kibedi.
Dr. Elly Twineyo Kamugisha, Executive Director, Uganda Export Promotion Board said trade relationship between Uganda and the UAE has grown tremendously. “Currently, Uganda’s exports to the UAE has exceeded $2 billion and we are diversifying the export base by introducing new products such as fish (Nile Perch).
“We are promoting fruits and vegetables, coffee, tea, minerals and we are also looking at value addition.”
Peter Balimunsi, Chairman Board of Directors, Uganda Free Zones Authority said their vision is to encourage export-oriented products in the country.
“It’s fairly a new concept in the country. We are trying to establish free zones and we are mandated to regulate them. We want to make conditions easy for investors coming to Uganda,” said Mr. Balimunsi.
He noted that the government has already secured land and built structures where investors can come and start business right away.
Now in 12th edition, the Annual Investment Meeting is an initiative of the AIM Foundation, an independent international organization fully committed to empower the world’s economy by boosting effective promotion strategies and facilitating opportunities for economic productivity and expansion.
The meeting has attracted decision-makers, investors, experts, and academic figures from all over the world, who gathered to discuss the shift in the global investment landscape in a global environment characterized by geo-political and economic challenges and its impacts on the attraction of foreign direct investments, and financing vital economic sectors as entrepreneurship, startups, and SMEs.