Oct 21, 2021

Mawazo Writing Africa

Writing about the main

Uganda targets $4 billion investments at Dubai Expo

Uganda is counting on the ongoing Dubai-Expo in the United Arab Emirates to attract investments worth around 4 billion US dollars in various sectors of its economy by next year, the country’s investment authority said.

The Dubai 2020 Expo, a world exposition that began on October 1, 2021, has attracted around 200 countries and several potential investors.

The expo, which will last six months, will be held under three sub-themes: Opportunity, sustainability and mobility.

Uganda is participating in the “Opportunity” theme, where it will present its export and tourism attractions as well as new investment opportunities.

According to the Uganda Investment Authority, the Country is trying to use this year’s expo to attract investment in infrastructure, mining, health, tourism, agriculture, real estate, energy, industrialization and oil and gas.

On Wednesday the country announced that it had already lower I signed investment agreements worth $ 650 million.

This includes $ 500 million for renewable energy and transportation projects; $ 50 million for mineral processing; and $ 50 million for a new pharmaceutical facility to manufacture high quality diagnostic kits for HIV / AIDS, malaria, TB and other POC diagnostic technologies.

The announcement was hailed as an important first sign of the investment opportunities that Expo 2020 Dubai will bring to participating countries.

“Today’s announcement of approximately $ 650 million investment is part of our broader drive to attract $ 4 billion in new investment in Uganda to advance the country at its start on its path to recovery from the pandemic, “said Robert Mukiza, Director General of the Uganda Investment Authority.

According to Mr. Mukiza, the country is funding around 79 bankable projects at various stages of development, who are ready for investment.

“These projects can be realized through public-private partnerships, joint ventures, private or public agreements, and some are greenfield, brownfield or expansion projects. Our partners therefore have a variety of investment options to choose from, ”he said.