Uganda wants Malaysian businesses to set up shop there because of peace, steady politics, and rapid economic growth. Finance Minister Matia Kasaija pointed to the stable currency and open economy as reasons foreign companies should invest. Private businesses make up about 80 percent of GDP, with rising demand for manufacturing goods and services. The country offers cheap power for large factories along with security that helps exports compete globally. Foreign investment climbed from $1.2 billion in 2020 to $3 billion last year.
Kasaija spoke at the Pearl of Africa Trade Expo in Malaysia, organized through the Uganda High Commission. The event aims to connect with the ASEAN market of ten countries across Southeast Asia. The minister said Malaysia could help Uganda shift from low-value exports to high-value products. He asked for investment in farming industries, tourism, minerals, oil, technology, and creative sectors. This expo earned recognition as the first East African Community event in ASEAN records.
The IMF predicts Uganda will have 7.5 percent real GDP growth in 2025, making it among the fastest-growing economies worldwide. The government plans to expand from a $50 billion economy to $500 billion by 2040. Uganda belongs to major trade groups across Africa, giving it access to markets with 1.5 billion people and a $3 trillion GDP. The average return on investment has risen above 14 percent since 2022.
Kasaija spoke at the Pearl of Africa Trade Expo in Malaysia, organized through the Uganda High Commission. The event aims to connect with the ASEAN market of ten countries across Southeast Asia. The minister said Malaysia could help Uganda shift from low-value exports to high-value products. He asked for investment in farming industries, tourism, minerals, oil, technology, and creative sectors. This expo earned recognition as the first East African Community event in ASEAN records.
The IMF predicts Uganda will have 7.5 percent real GDP growth in 2025, making it among the fastest-growing economies worldwide. The government plans to expand from a $50 billion economy to $500 billion by 2040. Uganda belongs to major trade groups across Africa, giving it access to markets with 1.5 billion people and a $3 trillion GDP. The average return on investment has risen above 14 percent since 2022.
