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East Africa: Ui.S. Wins Best Foreign Investment Project in EA At Annual Investment Meeting

Uganda’s Investment Authority has won best Foreign Direct Investment (FDI) Project in East Africa award at the 12th edition of the Annual Investment Meeting (AIM Global 2023).

Uganda was accorded the award on Monday at a special awards ceremony held in Abu Dhabi, UAE.

The award was in recognition of Uganda’s impressive ability to handle Foreign Direct Investment (FDI). The Rwanda Development Board was named runner up.

The Uganda Investment Authority (UIA), which is the agency mandated by the county’s President to promote investment opportunities in the country, was hailed for its work in helping efficiently facilitate foreign investment in a new multi-million dollar mineral processing project.

Some 170 countries are participating in the meeting that runs from May 8 -10, 2023, including top executives, decision makers, senior corporate leaders, government officials, and civil society representatives.

The meeting seeks to help identify untapped business opportunities and promote mutually beneficial cooperation.

The award was accepted by UIA’s Director-General Robert Mukiza, who, in his acceptance speech, said, “Thank you for the award which I accept on behalf of Uganda and H. E. President Yoweri Museveni. I encourage you to continue to choose Uganda as your preferred investment destination.”

Addressing delegates, Mukiza stressed the importance of the UAE to Uganda, noting that the two countries are confronted with the same challenges: energy transition and climate change.

“UAE is a mature Oil & Gas producer; Uganda is an emerging oil producer. UAE is in a desert; Uganda is in a tropical environment and one of the most biodiverse countries in the world. Yet we are all comforting the issue of energy transition albeit at different levels of development and climate scenarios,” Mukiza said.

In the spirit of cooperation, he expressed Uganda’s commitment to working together with UAE in pursuit of the common agenda of energy security and responsible transition.

“Our investments need to embrace this reality. We look forward to walking this journey together where we shall confront the climate change issues for Africa and the world as partners.” he said.

The Annual Investment Meeting (AIM) is an initiative of the AIM Foundation, an independent international organisation fully committed to empower the world’s economy by boosting effective promotion strategies and facilitating opportunities for economic productivity and expansion.

The AIM is taking place for the first time in UAE’s capital city, Abu Dhabi, under the theme “The Investment Paradigm Shift: Future Investment Opportunities To Foster Sustainable Economic Growth, Diversity and Prosperity.”

It is highlighting five key pillars – startups, foreign direct investment, small and medium enterprises, future cities, and foreign portfolio investments – which are all aimed at stimulating local and international economic growth.

Celebrating the event, Dawood Al Shezawi, the Annual Investment Meeting’s chairman, said: “We look forward to sharing our vision for the future and exploring new partnerships that will help drive global economic growth.”

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