Uganda Positions Itself as Africa Gateway for Vietnamese Businesses

Uganda is strategically positioning itself as a crucial gateway for Vietnamese companies seeking to penetrate the East African and wider African markets. This ambition was underscored at the Việt Nam–Uganda Business Forum held in Hà Nội, which saw over 300 officials, business leaders, and investors from both nations in attendance. The event, organized as part of Uganda’s economic diplomacy efforts, aimed to foster increased foreign direct investment and expand export markets, aligning with Uganda’s goal of achieving a GDP of US$500 billion by 2040.

Ambassador to Việt Nam, Betty Bigombe, cited Vietnam’s remarkable transformation as an inspiration, emphasizing that strengthening economic ties can help Uganda achieve its aspirations of becoming a top middle-income country. Despite a long-standing diplomatic relationship since 1973, bilateral trade has seen modest figures, reaching approximately $95.5 million in 2025, with Vietnamese investments totaling around $40 million primarily in mining and construction.

The forum identified several key sectors for potential collaboration, including agricultural processing, manufacturing, IT, tourism, mining, oil and gas, pharmaceuticals, and renewable energy. Uganda highlighted its advantages, such as a young, sizable workforce, a growing consumer base, fertile land, abundant natural resources, and its central location within the East African Community, offering access to a market of roughly 300 million people.

Olive Z. Kigongo, President of the Uganda National Chamber of Commerce, emphasized the country’s investment incentives, including tax exemptions on imported equipment, and its strategic geographic position. She noted Uganda’s interest in Vietnam’s expertise in agricultural processing, particularly rice cultivation, as Uganda aims to enhance food security and export capabilities. Kigongo called for enhanced cooperation in technology transfer and human resource development to transform political ties into a robust economic partnership.

Nguyễn Quang Vinh, VCCI Vice Chairman, pointed out the complementary economic strengths of both nations, with Vietnam excelling in processing and IT, and Uganda possessing rich natural resources and agricultural potential. While acknowledging potential barriers such as geographical distance and logistics costs, both sides expressed a commitment to deepening economic cooperation through increased dialogue and strategic partnerships.

This news was sourced from vietnamnews.vn.