By Joseph kiggundu
Jakarta, Indonesia – Uganda is stepping up efforts to deepen economic engagement with Southeast Asia, with a call to Indonesian investors to explore opportunities in tourism, ICT, energy, and mineral development.
Speaking at the Pearl of Africa Business Forum at Park Hyatt in Jakarta on Thursday, Uganda’s State Minister for Trade, Gen. Wilson Mbadi Mbasu, delivered a compelling pitch to business leaders, positioning Uganda as a promising frontier for trade and investment under the country’s long-term Vision 2040 development framework.
“Uganda is ready and open for business,” Gen. Mbadi said. “Although our countries are far apart geographically, our shared commitment to economic progress and sustainable growth brings us closer together.”
Trade Snapshot and Opportunities
In 2023, Uganda exported goods worth $39.43 million to Indonesia, primarily cocoa, raw hides, and oil seeds. In contrast, Indonesia’s exports to Uganda totaled $16.88 million, largely iron and steel, machinery, pharmaceuticals, and plastics. While the trade balance currently favors Uganda, both sides acknowledge the significant room for expansion.
Gen. Mbadi emphasized the need to unlock trade potential through bilateral trade agreements, business-to-business (B2B) forums, and strengthened institutional cooperation, including through the Uganda–Indonesia Joint Commission on Trade.
Key Investment Areas Highlighted
Uganda’s tourism sector was a major focus of the minister’s address. Citing the country’s scenic beauty, biodiversity, and cultural richness, Gen. Mbadi invited Indonesian airlines, hotel groups, and tour operators to invest in eco-tourism, adventure travel, and heritage tourism.
On digital development, Uganda’s young and tech-driven population was presented as a major advantage. Gen. Mbadi called for joint ventures in fintech, agritech, edtech, and e-commerce, and proposed the creation of a “digital bridge” connecting Jakarta and Kampala through enhanced ICT cooperation and infrastructure.
He also highlighted Uganda’s significant mineral wealth—gold, cobalt, copper, lithium, and rare earths—as a natural fit for Indonesia’s growing role in energy transition industries. The minister proposed collaboration in ethical mining, local value addition, and green industrialization.
Energy investment also featured prominently, with Uganda’s 6.5 billion barrels in proven oil reserves and the ongoing East African Crude Oil Pipeline (EACOP) project positioned as attractive opportunities for strategic partnerships.
Private Sector and Chamber Support
George Inholo, Director at the Uganda National Chamber of Commerce and Industry (UNCCI), also addressed the forum. He applauded the growing ties between Uganda and Indonesia and echoed the call for increased Indonesian private sector presence in Uganda.
“As UNCCI, we strongly support this initiative,” Inholo said. “Uganda remains one of Africa’s top investment destinations and continues to attract some of the continent’s most significant FDI projects. We invite Indonesian investors to be part of this journey.”
Strong Foundations for South-South Cooperation
Gen. Mbadi concluded his address by underscoring Uganda’s political stability, regulatory reforms, and investor-friendly environment. He assured prospective partners of transparent processes and predictable returns.
He positioned Uganda’s outreach to Indonesia as part of a broader South-South cooperation strategy—focused on mutual growth, technology sharing, and diversification beyond traditional Western trade routes.
“This is a new chapter for Uganda–Indonesia relations,” he said. “Let us seize this moment to build a future of shared prosperity.”