Uganda Courts Chinese Investors in Push for ATMS-Led Economic Transformation

Uganda has taken a significant step toward advancing its long-term economic transformation agenda after the Ministry of Finance hosted a 40-member Chinese investor delegation exploring joint venture opportunities across the country’s priority ATMS pillars: Agriculture, Tourism, Manufacturing, and Science & Technology.

The visit highlights strengthening economic relations between Uganda and China, while reinforcing Uganda’s positioning as a competitive investment destination within East Africa and the wider African Continental Free Trade Area (AfCFTA).

Minister of State for Investment and Privatisation Evelyn Anite described the engagement as a key milestone in advancing Uganda’s tenfold growth strategy, which aims to expand the country’s Gross Domestic Product (GDP) to approximately US$500 billion in the long term.

“The delegation’s investment interests are closely aligned with Uganda’s development blueprint. Foreign direct investors are increasingly aligning with national priorities in agriculture, manufacturing and tourism, which are key drivers of structural transformation and economic expansion,” Anite said.

The delegation has already conducted sector-specific engagements, including site visits in the tourism industry, and is now progressing toward manufacturing opportunities across multiple value chains. Officials say this phased approach signals a shift from exploratory discussions to potential long-term investment commitments.

Uganda presented a wide range of investment opportunities across key sectors. In agriculture and agro-processing, the country remains Africa’s leading exporter of Robusta coffee, with export earnings reaching US$1.5 billion in 2024—representing a 60 percent year-on-year increase. Government says this growth presents strong potential for value addition and expanded export processing.

In the minerals and mining sector, Uganda offers reserves of gold, phosphates, iron ore, cobalt and rare earth elements. The operational gold refinery in Entebbe, alongside mining activities in Busia, strengthens the sector’s investment outlook. Uganda’s emerging oil and gas industry, supported by projects such as Tilenga, Kingfisher and the East African Crude Oil Pipeline, is also nearing commercial production.

Tourism remains a key growth sector, driven by attractions such as mountain gorilla tracking, the River Nile and national parks. With more than 1.5 million tourist nights recorded annually, demand continues to rise for hospitality infrastructure including lodges, eco-tourism facilities and premium travel services.

Uganda’s manufacturing sector continues to expand, with export earnings rising to US$8.7 billion in 2024, a 26 percent increase from the previous year. Investors are being attracted by competitive power tariffs, industrial park infrastructure and preferential access to regional and continental markets under the EAC and AfCFTA frameworks.

The ICT and digital economy is also emerging as a major growth frontier, supported by a growing fintech ecosystem, innovation hubs and a youthful population. The sector recorded 16.2 percent growth in 2024.

A key outcome of the engagement is a commitment to deepen Chinese participation in Uganda’s industrial ecosystem, including expansion within existing industrial parks and new joint ventures across ATMS sectors.

Planned collaboration areas include agro-industrial processing, mineral beneficiation, infrastructure development, and increased export of coffee and agro-commodities to the Chinese market, facilitated through the Uganda Investment Authority.

Uganda’s Ambassador to China, Oliver Wonekha, said the delegation is conducting a comprehensive assessment of Uganda’s investment environment.

She noted that investors are examining incentives such as tax breaks, regulatory support, and guarantees for profit repatriation, adding that their presence reflects growing confidence in Uganda’s economic prospects and bilateral relations with China.

Uganda’s macroeconomic outlook continues to support its investment appeal. The economy is valued at approximately US$61.3 billion, with projected growth of 6.3 percent in the 2024/25 financial year and inflation maintained below 5 percent.

The country’s population of more than 45.9 million, with a median age of 17, provides a large and youthful workforce. Uganda also maintains a liberalised economy allowing 100 percent profit repatriation and offers access to a regional market of over 300 million people under the East African Community, and 1.4 billion under AfCFTA.

Officials say continued infrastructure development, macroeconomic stability and improved logistics are further strengthening Uganda’s position as an attractive investment destination.