AIM names Uganda East Africa’s best investment destination

By Business A.M.

The Republic of Uganda’s Investment Authority (UIA) has been ranked as the  ‘Best FDI Project in the East Africa Community Region’ at the 12th edition of the Annual Investment Awards (AIM Global 2023) at a special awards ceremony held in Abu Dhabi, the Authority said in a statement released to Business A.M.

As the agency mandated by the county’s president to promote investment opportunities in the country, UIA was hailed for its work in helping efficiently facilitate foreign investment in a new multi-million-dollar mineral processing project.

Some 170 countries participated in the meeting that ran from 8th -10th May 2023 in Abu Dhabi, UAE, and was attended by  top executives, decision makers, senior corporate leaders, government officials, and civil society representatives. It sought  to help identify untapped business opportunities and promote mutually beneficial cooperation.

The award was accepted by Robert Mukiza, UIA’s director-general, who told the delegates that the challenges  confronting Uganda were the same as in the UAE adding that, these include, energy transition and climate change.

“UAE is a mature oil and 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 confronting the issue of energy transition albeit at different levels of development and climate scenarios,” he further said, adding that “in the spirit of working together, we want you to count on us in pursuit of this 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.”

The AIM took 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.”