The event which took place at the Bangkok Intercontinental, aimed to promote economic, trade, investment, and tourism cooperation across four key sectors: Tourism & Hospitality, Agro-Industrialization & Food Processing, ICT & Innovation, and Mining, Oil & Gas. Uganda also highlighted its comprehensive investment incentives, including Free Economic Zones, Investment Certificates, tax exemptions, import duty waivers, profit repatriation guarantees, and one-stop investor services, reinforcing its potential as an attractive gateway to a consumer market exceeding 500 million people across East Africa and the COMESA region under the vision of "Sustainable Shared Prosperity."
Hon. Fredrick Ngobi Gume Minister of Trade, Industries and Co-operatives, emphasized that the "Pearl of Africa - Uganda Business Forum & Expo" is designed to strengthen economic, trade, investment, and tourism ties between Uganda and Asian countries, as well as to facilitate knowledge exchange and business networking between government agencies, the private sector, and investors. Previous editions of the forum in Indonesia and Malaysia received positive responses, reflecting growing interest in Uganda as a "Gateway to Africa" with rapid growth and economic stability. The Thailand edition aims to expand economic opportunities further and deepen Thai-Uganda cooperation.
Uganda has emerged as a new investment hub in Africa, underpinned by a strong economy, competitive investment incentives, and access to a consumer market of over 500 million people within the East African Community (EAC) and the Common Market for Eastern and Southern Africa (COMESA). As a result, Uganda is widely regarded as the gateway to Africa's fastest-growing region, attracting global investors' attention in 2024. Bilateral trade between Uganda and Thailand exceeded USD 59 million, demonstrating significant potential for further expansion. According to the latest data from the IMF and World Bank, Uganda's GDP is projected to grow 6.2-6.4% in 2024/25, with potential for double-digit growth once oil production reaches full scale. With a population of approximately 51 million, Uganda benefits from both a strong domestic market and a skilled labor force, while maintaining one of the highest levels of political and social stability in East Africa.
Minister Gume further stated that the forum serves as a bridge for economic and innovative cooperation and promotes sustainable shared growth. Uganda is actively seeking partnerships in four key sectors:
- Tourism & Hospitality - Known as the "Pearl of Africa", Uganda boasts stunning natural landscapes, mountains, forests, and diverse wildlife. The forum presents opportunities for Thai investors to develop sustainable tourism, including investments in eco-lodges, resorts, theme parks, international airline connections, destination branding, tourism services, and hospitality training programs.
- Agro-Industrialization & Food Processing - Agriculture remains a cornerstone of Uganda's economy, employing over 70% of the workforce. The forum encourages Thai investors to participate in processing agricultural products, developing irrigation systems, modern farming equipment, fertilizers, bio-agricultural inputs, and value chains linking Ugandan farmers to global markets.
- ICT & Innovation - Uganda is advancing toward a digital economy, presenting opportunities for Thai tech investors in FinTech, financial infrastructure, data centers, communication networks, Smart City solutions, AI, IoT, and digital learning technologies. The establishment of ICT training centers aims to nurture the next generation of African tech talent.
- Mining, Oil & Gas - Uganda is rich in natural resources such as gold, copper, cobalt, iron, and petroleum. The forum invites Thai investors to participate in mineral exploration, refining, value addition, renewable energy development, and energy investment networks connecting Thailand and Africa.
Uganda offers comprehensive investment incentives under the Investment Code and Free Zones Act, facilitated by the Uganda Investment Authority (UIA). These include:
- Repatriation & Foreign Exchange - Investors holding an Investment Certificate or operating within a Free Zone can freely repatriate profits, dividends, and sales revenue in foreign currency without prior approval from the central bank.
- Free Zones / Export Processing Zones - Offering corporate income tax exemptions for up to 10 years, import duty and VAT exemptions for raw materials, on-site customs clearance, visa facilitation for foreign personnel, and full infrastructure and security support.
- Investment Certificates & Negotiated Incentives - Including tax holidays for strategic projects, import duty reductions on machinery, R&D tax exemptions, and accelerated depreciation, with a minimum foreign investment of USD 250,000.
- Strategic Investment Status - Investors approved by the Minister enjoy additional benefits, including reduced taxes on repatriated profits, land lease concessions, exemptions on foreign loan interest, and sector-specific incentives for agriculture, energy, and manufacturing.
Uganda reaffirms its position as a stable investment base in East Africa, promoting Agro-Industrialisation to enhance production of key crops such as rice, coffee, maize, horticultural products, and fish. Modern processing and machinery systems ensure year-round access to raw materials. Uganda also strengthens investment institutions through the UIA One-Stop Centre and regulatory oversight by the Uganda Free Zones Authority, while participating in international investment protection agreements such as MIGA and Double Taxation Treaties (DTA).
Uganda's security and stability, supported by modernized police and military forces under the principles of Patriotism, Democracy & Good Governance, provide a safe investment environment. Events such as Martyrs' Day, attracting over 3 million participants worldwide without incident, and over 1 million annual tourists, further underscore Uganda's credibility as a secure, reliable, and growth-ready destination for long-term investment.
