By Joseph Kiggundu
Kuala Lumpur, Malaysia — Uganda has officially opened the Pearl of Africa Business Forum and Expo in Kuala Lumpur, aiming to secure at least USD 5 billion in trade and investment over the next five years. The high-profile event is part of a strategic initiative to strengthen economic ties between Uganda and Malaysia, and to showcase Uganda’s vast investment potential.
The Ugandan delegation is led by Finance Minister Hon. Matia Kasaija and includes key government officials: Energy Minister Hon. Ruth Nankabirwa, Agriculture Minister for Animal Husbandry Hon. Bright Rwamirama, Uganda’s High Commissioner to Malaysia Amb. Betty Bigombe, Uganda National Chamber of Commerce and Industry (UNCCI) President Olive Kigongo, Senior Presidential Adviser on Exports Mrs. Susan Muhwezi, and Chief of Protocol Amb. Charles Ssentongo.
Malaysia-Uganda: A New Economic Frontier
The opening ceremony was graced by Hon. Yang Bhg Muhtar Hashim, Executive Director of the Chemical Industries Council of Malaysia, who welcomed the initiative and highlighted Malaysia’s readiness to explore new trade opportunities with Uganda.
Finance Minister Kasaija emphasized Uganda’s conducive investment climate, underpinned by a stable legal and regulatory framework. “We have built an enabling environment that addresses the critical needs of investors across sectors,” he told participants.
Energy Minister Nankabirwa noted that Uganda is no longer interested in exporting raw materials. “We are focused on value addition. Uganda has some of the world’s best iron, along with abundant copper, oil, and gold,” she said, urging investors to tap into the country’s mineral processing potential.
Uganda: Gateway to East and Central Africa
Uganda’s High Commissioner to Malaysia, Amb. Betty Bigombe, described the Forum as more than just a business event. “It is a bridge—between nations, between ambition and opportunity,” she said. Bigombe underlined Uganda’s strategic location as a gateway to the East African Community (EAC) and the Common Market for Eastern and Southern Africa (COMESA)—a combined market of over 300 million people.
With a youthful, energetic population and liberalized economy, Uganda is positioning itself as a regional trade hub and a fertile ground for investment across a spectrum of high-growth sectors.
Focus on Five Priority Sectors
Under the theme “Unlocking Uganda’s Business Potential”, the Expo is spotlighting five high-impact sectors central to Uganda’s national development agenda: agro-industrialisation, tourism, oil and gas, science and technology, and mineral development.
UNCCI President Olive Kigongo hailed the forum as a milestone in Uganda-Malaysia relations and a bold step toward deepening public-private cooperation. “This is not just about trade—it’s about partnership,” she said. “We’re opening up our country, our regions, and our industries to regional and global investment.”
Trade, Transport, and Tourism: The Triple Focus
The Ugandan government is also leveraging Uganda Airlines as part of its broader investment marketing strategy. The national carrier now flies to nearly 20 destinations, including London, Dubai, Johannesburg, and Mumbai, with hopes to soon add Kuala Lumpur to the list—facilitating smoother trade and travel between the two countries.
Ugandan exports to Malaysia have already shown promise. In 2024, Uganda exported $31.7 million worth of cocoa beans to Malaysia—a figure that experts say is only a glimpse of what could be achieved through better trade facilitation and value addition.
Tourism is another focus area. While Malaysia receives over 35 million tourists annually, Uganda aims to attract 3.5 million within the next five years by showcasing its rich biodiversity, cultural heritage, and scenic beauty to Asian markets.
A Call for Cross-Border Partnerships
UNCCI is actively encouraging Malaysian businesses to explore joint ventures in agro-processing, ICT, logistics, tourism, and mineral development. “Trade is the engine of development, and investment is its fuel,” Kigongo said. “We’re not just here to sell products—we’re here to forge lasting partnerships.”
The Malaysia–Uganda Business Forum and Expo is more than an event—it’s a launchpad for a new era of economic cooperation between East Africa and Southeast Asia. As both nations look ahead, the opportunity to co-create prosperity has never been greater