Museveni courts UAE investment in Uganda, signs key Memoranda of Understanding
The call came during a meeting with His Highness Sheikh Abdullah Bin Zayed Al Nahyan, the UAE's Deputy Prime Minister and Minister of Foreign Affairs, who paid a one-day official visit to Uganda on Wednesday.
President Yoweri Museveni has extended a strong invitation to the United Arab Emirates (UAE) to invest in Uganda, citing significant potential for mutually beneficial cooperation across various sectors.
The call came during a meeting with His Highness Sheikh Abdullah Bin Zayed Al Nahyan, the UAE’s Deputy Prime Minister and Minister of Foreign Affairs, who paid a one-day official visit to Uganda on Wednesday.
At State House Entebbe, President Museveni warmly welcomed Sheikh Abdullah, acknowledging the enduring friendship between Uganda and the UAE. He expressed gratitude for the UAE government’s willingness to partner with Uganda in its development efforts.
“I welcome you to Uganda and thank you and your government for being ready to work with us,” he stated, highlighting Uganda’s long-standing engagement with Arab nations, tracing back to the 1950s and collaborations with countries like Egypt, Algeria, and Libya.
President Museveni recalled his 2014 visit to the UAE, which solidified his belief in the vast opportunities for cooperation, particularly in manufacturing, agro-processing, mineral exploitation, infrastructure development, service industries like tourism, and even defense.
He urged UAE companies to seize the opportunity to invest in Uganda, emphasizing the complementary nature of the two economies. He specifically highlighted the potential for investment in road tolls, aimed at enhancing connectivity between Uganda and its neighboring countries, unlocking the immense business potential within the region’s common markets.
Sheikh Abdullah reciprocated the sentiments, conveying greetings from the UAE leadership and expressing their sincere wishes for the development and prosperity of the Ugandan people.
He reaffirmed the UAE’s commitment to bolstering trade ties and cooperation with Uganda, emphasizing the establishment of effective development partnerships to support both nations’ aspirations for sustainable growth and prosperity.
The highlight of the visit was the signing of six significant Memoranda of Understanding (MoUs) between Uganda and the UAE, witnessed by President Museveni and Sheikh Abdullah. These MoUs cover a wide range of strategic areas, signifying a deepening of cooperation between the two countries:
- Works and Transport: Collaboration on infrastructure development and transportation projects.
- Diplomatic Training and Capacity Building: Strengthening Uganda’s diplomatic corps through training and knowledge exchange.
- Visa Exemption Agreement: Facilitating easier travel and people-to-people connections.
- Joint Development Agreement: Collaborative efforts on joint development projects.
- E-government and Digital Transformation: Enhancing Uganda’s e-governance capabilities through digital solutions.
- Protection of Investment: Safeguarding investments and fostering a conducive business environment.
The signing of these MoUs marks a pivotal moment in Uganda-UAE relations, paving the way for enhanced economic cooperation and strategic partnerships. President Museveni’s invitation for UAE investment underscores Uganda’s commitment to attracting foreign direct investment to fuel its economic growth and development agenda.
The UAE’s response and the signed agreements signal a strong willingness to partner with Uganda in achieving its development goals, promising a future of shared prosperity for both nations.
