KAMPALA — Uganda has deepened its economic ties with China following high-level talks between Finance Minister Matia Kasaija and a delegation from the Export-Import Bank of China, aimed at accelerating the country’s industrialisation and long-term economic transformation.
The Chinese delegation, led by Vice President Dr. Yang Dongning, is in Uganda to strengthen bilateral cooperation and explore financing mechanisms to support the country’s ambitious growth agenda.
Speaking after the meeting, Kasaija said Uganda’s next phase of economic expansion will be anchored on the government’s ATMS strategy—focusing on agro-industrialisation, tourism development, mineral-based industrial growth, and science, technology and innovation.
He highlighted key sectors such as coffee, cotton, tea, oil and gas, and tourism as central to driving value addition and export growth.
“Uganda is shifting away from exporting raw materials towards processing, manufacturing, and higher-value exports,” Kasaija said, noting that the country is positioning itself to benefit from China’s zero-tariff policy and expanded access to global markets.
The minister, accompanied by Permanent Secretary and Secretary to the Treasury Ramathan Ggoobi, also expressed gratitude to the People’s Republic of China for its longstanding technical and financial support across sectors including transport, energy and health.
In a move expected to boost investment inflows, China EXIM Bank committed to support the organisation of a “Uganda Day” in China—an initiative designed to showcase Uganda’s investment opportunities, link local enterprises with Chinese manufacturers, and attract new financiers.
Officials said the initiative will form part of a broader push to strengthen economic diplomacy, deepen private sector partnerships, and position Uganda as a leading investment destination on the continent.
Both parties also agreed to scale up support for industrial parks, with a focus on improving access to land, utilities, and logistics infrastructure to attract large-scale investors and enhance productivity.
China EXIM Bank reaffirmed its commitment to Uganda’s development priorities through a range of financing options, including trade finance, blended financing models, equity investments, and syndicated financing arrangements tailored to support both public and private sector projects.
Kasaija emphasised the need for flexible and innovative financing structures to fast-track implementation of priority investments, particularly in infrastructure and manufacturing.
The discussions also highlighted the importance of strengthening technical and vocational education and training (TVET) to build a skilled workforce capable of supporting industrial expansion and meeting investor demands.
The renewed partnership signals Uganda’s intent to leverage international financing and strategic alliances to achieve its long-term goal of tenfold economic growth.
