On Wednesday this week, Uganda signed it’s first commitment deal in the Dubi Expo 2020 that took place in Dubi giving space to hundreds of countries to show case thier products and attract business in thier respective counties.
According to Uganda Investments Authority, The Republic of Uganda became the first participant country at Expo 2020 to publicly announce a raft of new investment as the deals were signed by the country during a special ceremony held at the Expo.
The commitments included USD 500m for renewable energy and transportation projects; a USD 50m investment into mineral processing; and USD 50 million for a new pharmaceutical facility to manufacture high quality diagnostics kits for HIV/AIDS, Malaria, TB, and other POC diagnostic technology.
The announcement was hailed as a major first sign of the investment opportunities
that the Expo 2020 Dubai will bring to participant countries. The Expo is being held
under 3 sub-themes: Opportunity, Sustainability and Mobility. Uganda is participating
under the “Opportunity” theme, with Uganda’s Expo theme of ‘Right Place, Right
Time’
Robert Mukiza, the Director General of the Uganda Investments Authority said that the investment was part of the broader ambition to bring in $4 billion of new investment into the country to propel it forward as it embarks on the post pandemic recovery journey.
“We are currently promoting about 79 bankable projects at different stages of
development that are ready for investment. These projects can be actualized through Public Private Partnerships, joint ventures, private or public arrangements and some
are greenfield, brownfield or expansion projects. Our partners therefore have a wide variety of investment options to pick from.” he explained at the event.
Sheikh Nahyan bin Mubarak Al Nahyan, the Minister of Tolerance and Coexistence and the Commissioner-General of Expo 2020 Dubai, said that with Uganda as one of the youngest populists countries in the world, it’s presence at the event highlights a journey of
growth and development.
“Through Uganda’s presence at Expo 2020 and beyond we hope to expand the horizon of our partnership into new fields across biodiversity, agro-processing, renewable energy and tourism.” he said.
The Letters of Intent were witnessed today by the Ugandan Minister of Finance, Planning and Economic Development, Hon. Matia Kasaija, at a special ceremony staged at the Uganda Pavilion at Expo 2020 Dubai at 14:00 local time.
