The Republic of Uganda’s investment authority was on Monday named the ‘Best FDI Project in the East Africa Community Region’ at the 12th edition of the Annual Investment Awards (AIM Global 2023) ceremony held in Abu Dhabi.
The Uganda Investment Authority (UIA), which is the agency mandated to promote investment opportunities in the country, was hailed for its work in efficiently facilitating foreign investment in a new multi-million dollar mineral processing project.
A total of 170 countries are participating in the meeting that runs from 8th -10th May 2023, including top executives, decision makers, senior corporate leaders, government officials, and civil society representatives. It seeks to help identify untapped business opportunities and promote mutually beneficial cooperation
The award was accepted by UIA’s Director-General, Robert Mukiza, who said: “Thank you for the award which I accept on behalf Uganda and H. E. President Yoweri Museveni. I encourage you to continue to choose Uganda as your preferred investment destination.”
He told delegates: “I would like to stress the importance of the UAE to Uganda.
The challenges we are confronted with are the same: 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 confronting the issue of energy transition albeit at different levels of development and climate scenarios.
“Therefore, 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 is taking place for the first time in the United Arab Emirate’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.”