Pearl of Africa Expo Kicks Off in Kuala Lumpur to Strengthen Uganda-Malaysia Trade Ties

The Pearl of Africa Business Forum and Expo has officially opened in Kuala Lumpur, Malaysia, with Uganda eyeing trade and investment opportunities worth approximately USD 5 billion over the next five years.

A high-powered delegation led by Uganda’s Minister of Finance, Hon. Matia Kasaija, includes Hon. Ruth Nankabirwa (Minister of Energy), Hon. Bright Rwamirama (Minister of State for Animal Husbandry), Uganda’s High Commissioner to Malaysia Amb. Betty O. Bigombe, Uganda National Chamber of Commerce and Industry President Olive Kigongo, Senior Presidential Adviser on Export Promotion Mrs. Susan Muhwezi, and the Chief of Protocol at the Ministry of Foreign Affairs, Amb. Charles Ssentongo.

The opening ceremony was graced by Hon. Yang Bhg Muhtar Hashim, Executive Director of the Chemical Industries Council of Malaysia, who emphasized Malaysia’s commitment to deepening trade with Uganda. He noted the vast potential for mutually beneficial partnerships across various sectors.

Speaking at the event, Hon. Matia Kasaija highlighted Uganda’s conducive investment climate, citing a stable legal and regulatory framework that supports foreign and local investors alike.

Energy Minister Ruth Nankabirwa underscored Uganda’s policy of banning the export of raw materials, positioning the country as a prime destination for mineral processing. “Our iron ore is among the best in the world. We also have copper, oil, gold, and several other minerals. Uganda is open for investment in these sectors,” she said.

Ambassador Betty Bigombe emphasized the broader significance of the forum: “Today is more than just a business forum; it is a bridge between nations—between opportunity and ambition, and between vision and action.”

She painted a compelling picture of Uganda as a country blessed with vast natural resources, a youthful and energetic population, and a liberalized economy. “Uganda is strategically positioned as a gateway to the East African Community (EAC), a vibrant market of over 300 million people, and to the Common Market for Eastern and Southern Africa (COMESA). Investors in Uganda gain access to an entire regional market.”

The Expo, themed “Unlocking Uganda’s Business Potential,” focuses on five high-impact sectors aligned with Uganda’s national development agenda: agro-industrialisation, tourism development, oil and gas, science and technology, and mineral development.

In agro-industrialisation, Amb. Bigombe pointed to Uganda’s fertile soils and diverse agricultural output, which provide immense opportunities for value addition and export-driven agribusiness.

In tourism, she encouraged investment in eco-lodges, hospitality services, and infrastructure development, citing iconic sites such as Kidepo Valley, Queen Elizabeth, Murchison Falls, and the Rwenzori Mountains.

In the oil and gas sector, Uganda is progressing steadily, with several bankable projects ready for investment. These include the East African Crude Oil Pipeline (EACOP), the Hoima oil refinery, and logistics hubs supporting the petroleum value chain.

On science and technology, Uganda is advancing digital transformation through ICT parks, youth innovation hubs, and local tech device assembly.

In mineral development, Uganda is richly endowed with gold, cobalt, rare earth elements, and more. The country is inviting investment in sustainable, value-added exploitation of these resources.

Amb. Bigombe also highlighted the Uganda Investment Authority’s (UIA) efforts to support investors through a one-stop centre that offers services such as licensing, land access, tax advisory, and regulatory guidance.

Uganda permits 100% foreign ownership in most sectors, guarantees repatriation of profits, and offers investment incentives including tax holidays, customs exemptions, and infrastructure support in priority areas.

Moreover, the UIA has profiled over 120 bankable projects across key sectors like road infrastructure, agribusiness parks, tourism, and industrial development.