Ugandan Minsiter of Finance, Planning-and Economic Development Matia Kasaija signs the investment deals at the ceremony
Ugandan Minister of Finance, Planning and Economic Development Matia Kasaija signs the investment deals at the ceremony. Image Credit: Supplied

Dubai: The Republic of Uganda became the first participant country at Expo 2020 to announce a series of new investment.

The deals come the day after Uganda celebrated its National Day at Expo 2020. The total investments committed is worth $650m.

Investments will be channelled into:

  • $500 million for renewable energy and transportation projects;
  • $50 million investment into mineral processing;
  • $50 million for a new pharmaceutical facility to manufacture high quality diagnostics kits for HIV/AIDS, Malaria, TB, and other POC diagnostic technology.

“Today’s announcement of investment of about $650 million is part of our broader ambition to bring in $4 billion of new investment into Uganda to propel the country forward as it embarks on its post-pandemic recovery journey,” said Robert Mukiza, Director-General of the Uganda Investment Authority. “We are currently promoting about 79 bankable projects at different stages of development that are ready for investment.”

Through its participation in Expo 2020, Uganda will highlight its exports and its unique tourism and wildlife attractions. Uganda is primarily concerned with facilitating the investment process and will be focused on promoting opportunities in agriculture, mining, manufacturing, tourism and ICT.