Uganda has stepped up its push to attract foreign investment, pitching its economic potential to American investors at the ongoing Uganda–United States Investment Forum in Ritz-Carlton Hotel.
The forum, currently underway in Washington, D.C., was officially opened by State Minister for General Duties Henry Musasizi, who underscored Uganda’s ambition to transform its economy and deepen global partnerships.
“It is a pleasure to be here to discuss business, investment and opportunities that would make all of us more prosperous,” Musasizi told delegates.
He revealed that Uganda is targeting a tenfold economic expansion by 2040, aiming to grow its Gross Domestic Product to $500 billion. To achieve this, he said, the country is seeking strategic partnerships in investment, trade, tourism, and technological advancement.
Musasizi highlighted key sectors with vast potential, including agro-industrialisation, tourism, mineral development and the wider extractive industry, as well as science, technology, and infrastructure.
Permanent Secretary and Secretary to the Treasury Ramathan Ggoobi made a strong case for Uganda as a prime investment destination, citing its economic stability and favorable returns.
“Uganda has been ranked the best investment destination in Africa,” Ggoobi said, adding that the country offers “the lowest macroeconomic risk in the region but with the highest return on investment.”
He further emphasized Uganda’s stable peace, relatively low tax regime, and “tolerable administration of justice,” alongside what he described as a uniquely favorable climate for business.
Ggoobi also disclosed that Uganda is currently negotiating a new extended credit facility with the International Monetary Fund, while its relationship with the World Bank has been fully restored—developments expected to boost investor confidence.
Other senior government officials attending the forum include Attorney General Kiryowa Kiwanuka, who reiterated the country’s openness to investors and the improving legal environment.
Also present are Minister of Science, Technology and Innovation Monica Musenero and Bank of Uganda Governor Michael Atingi-Ego, who are engaging directly with American investors on opportunities in innovation and financial stability.
The forum is part of Uganda’s broader strategy to position itself as a competitive and attractive destination for global capital, particularly from the United States, as it seeks to accelerate economic transformation and industrial growth.
