Uganda Courts Chinese Investors in ATMS-Led Economic Transformation DriveKampala

The visit underscores deepening economic cooperation between Uganda and China, while reinforcing Kampala’s ambition to position itself as a competitive investment hub within East Africa and the broader African Continental Free Trade Area (AfCFTA). Minister of State for Investment and Privatisation, Evelyn Anite, described the engagement as a significant milestone in advancing Uganda’s “tenfold growth strategy,” which seeks to expand the country’s Gross Domestic Product to approximately US$500 billion over the long term. “The delegation’s investment interests are closely aligned with Uganda’s development blueprint. Foreign direct investors are increasingly focusing on agriculture, manufacturing, and tourism, which remain central to structural transformation and economic expansion,” Anite said. The Chinese delegation has already undertaken sector-specific visits, including tourism sites, and is now advancing discussions into manufacturing value chains. Officials say the progression from exploratory visits to structured engagements signals potential long-term investment commitments. Strategic Investment Sectors Uganda presented investment opportunities under its ATMS framework-Agriculture, Tourism, Manufacturing, and Science & Technology. In agriculture and agro-processing, Uganda remains Africa’s leading exporter of Robusta coffee, generating US$1.5 billion in export earnings in 2024, a 60 percent year-on-year increase. Authorities say this growth creates strong prospects for value addition and agro-industrial expansion. The mining sector also features prominently, with deposits of gold, phosphates, iron ore, cobalt, and rare earth minerals. Existing infrastructure such as the Entebbe gold refinery and active mining operations in Busia enhance the sector’s attractiveness. Uganda’s emerging oil and gas industry-anchored by the Tilenga and Kingfisher projects and the East African Crude Oil Pipeline-adds further strategic weight. Tourism continues to expand, driven by attractions including mountain gorilla tracking, the River Nile, and national parks. The sector currently records over 1.5 million tourist nights annually, with growing demand for hospitality infrastructure and eco-tourism facilities. Manufacturing has also shown strong momentum, with export earnings reaching US$8.7 billion in 2024, representing a 26 percent increase from the previous year. Uganda is leveraging industrial parks, competitive energy costs, and preferential access to regional and continental markets through the East African Community and AfCFTA. The ICT and digital economy is emerging as another growth frontier, expanding by 16.2 percent in 2024, supported by fintech innovation, start-up ecosystems, and a youthful population. Expanding Bilateral Economic Cooperation Key areas of proposed collaboration include agro-industrial processing, mineral beneficiation, infrastructure development, and expanded exports of coffee and agro-commodities to the Chinese market, coordinated through the Uganda Investment Authority. Uganda’s Ambassador to China, Oliver Wonekha, said the visiting delegation is conducting a comprehensive assessment of the country’s investment climate. She noted that investors are reviewing incentives such as tax exemptions, regulatory facilitation, and profit repatriation guarantees, adding that the mission reflects growing confidence in Uganda’s economic trajectory and bilateral relations with China. Macroeconomic Outlook Uganda’s economy, valued at approximately US$61.3 billion, is projected to grow by 6.3 percent in the 2024/25 financial year, with inflation remaining below 5 percent. With a population exceeding 45.9 million and a median age of 17, Uganda offers a large and youthful labour force. The country also maintains a liberalised investment regime allowing 100 percent profit repatriation and provides access to a combined market of over 300 million people within the East African Community and approximately 1.4 billion under the African Continental Free Trade Area. Officials say ongoing infrastructure development, macroeconomic stability, and logistics improvements continue to strengthen Uganda’s positioning as a regional investment destination.