Uganda Scoops ‘Best Investment Destination in Africa’ Award at AIM Congress

Uganda Scoops ‘Best Investment Destination in Africa’ Award at AIM Congress

Uganda has clinched the prestigious title of ‘Best Investment Destination in Africa’ at the Annual Investment Meeting (AIM) held in Abu Dhabi, UAE.

State Minister for Investment, Evelyne Anite, announced the feat, highlighting Uganda's remarkable strides in positioning itself as an attractive hub for global investors.

This accolade follows Uganda's previous win in 2023 as the 'Best Investment Destination in East Africa.

Uganda's recognition on the international stage doesn't stop there. The country's robust industrial development policies have earned it a coveted position among the top 10 in the Africa Industrialisation Index 2022 by the Africa Development Bank (AfDB).

The influx of Foreign Direct Investments (FDI) into Uganda has been noteworthy, with statistics from the Ugandan embassy in the UAE revealing an impressive sum of over $1 billion from the UAE alone over the past two years.

The AIM Global Investment Awards, which aim to commend exemplary investment promotion agencies worldwide, serve as a platform to showcase Uganda's proactive approach in attracting foreign investments to vital economic sectors.

The AIM congress, drawing decision-makers, investors, and experts from across the globe, provides a forum to discuss pertinent issues shaping the global investment landscape.

Uganda's strategies to attract FDI are multifaceted and comprehensive. By prioritizing the creation of a conducive business environment, bolstered by stable infrastructure, incentives such as tax holidays, and the identification of priority sectors, Uganda aims to further boost its attractiveness to investors.

The Ministry of Finance, Planning, and Economic Development's report of FDI inflows reaching $1.5 billion for the year ending April 2023 reflects the nation's growing appeal to foreign investors. With FDI contributing over 4% to Uganda's GDP, as noted by the World Bank, the country is poised to harness its investment potential for continued socio-economic advancement.