Uganda has invited Thai investors to explore opportunities in agro-processing, mineral beneficiation, tourism, manufacturing and technology as the government steps up efforts to grow the economy to US$500 billion by 2040.
Minister of State for Finance, Planning and Economic Development Henry Musasizi made the appeal during the Uganda-Thailand Economic Networking Dinner held at the Mandarin Oriental Hotel in Bangkok, Thailand.
Musasizi said Uganda was seeking to leverage Thailand’s experience in food processing, agricultural exports, tourism and high-tech manufacturing to increase domestic production, create employment and boost export earnings.
He urged investors to translate the longstanding relationship between the two countries into tangible economic benefits through industrial development and expanded trade.
“I urged them to turn the friendship between our two countries into factories, export growth, jobs and shared prosperity,” Musasizi said.
The minister highlighted investment opportunities across Uganda’s agricultural and industrial value chains, including coffee processing, processed foods, pharmaceuticals, steel products, fertilisers, cement, meat and dairy processing.
He also identified tourism and hospitality as sectors where Thai investors could establish businesses and support Uganda’s efforts to attract more international visitors.
Musasizi said the country was seeking to move beyond exporting raw materials by developing industries that transform locally available resources into higher-value products.
Under this strategy, Uganda is targeting electric battery production using lithium, automotive steel and construction materials from iron ore, organic fertilisers from phosphates, and electrical conductors and battery components from copper and cobalt.
The government hopes such investments will strengthen domestic manufacturing, create skilled jobs and increase the value of goods exported to international markets.
Musasizi also pointed to Uganda’s strategic position within the East African Community, which provides access to a regional market of approximately 530 million people.
He said the African Continental Free Trade Area offered Thai investors an additional platform for reaching markets across the continent through production facilities established in Uganda.
To attract investment, the government is promoting fiscal incentives, industrial parks and export processing zones while investing in infrastructure, energy, irrigation, information and communications technology, and transport networks.
Musasizi further assured prospective investors that Uganda had measures intended to simplify business operations, including business registration within one day.
He added that foreign investors could own 100 per cent of their investments and repatriate profits without restrictions.
The appeal forms part of Uganda’s broader efforts to attract foreign capital, expand industrial capacity and accelerate economic growth towards its 2040 development ambition.