Uganda Courts Thai Investors for Advanced Manufacturing, Mineral Processing

Uganda is making a significant push to attract Thai investors, focusing on opportunities in battery manufacturing, steel production, and mineral processing. Finance Minister Henry Musasizi extended this invitation at a recent economic networking dinner in Bangkok, highlighting Uganda’s desire to move beyond raw material exports and add value to its natural resources.

Specific investment proposals include utilizing lithium for battery components, iron ore for automotive steel, and copper and cobalt for electrical conductors. These initiatives are central to Uganda’s “Tenfold Growth Strategy,” which aims to achieve a US$500 billion economy by 2040 through industrialization and increased domestic production.

Beyond minerals, Uganda is also eager to draw on Thailand’s expertise in sectors like agro-processing, tourism, and high-tech manufacturing. The government seeks to boost export earnings, create jobs, and foster shared prosperity by converting bilateral friendships into tangible industrial ventures.

Further investment opportunities span coffee processing, pharmaceuticals, fertilizers, cement, meat and dairy, tourism, and hospitality. Uganda is also promoting the local production of organic fertilizers from phosphates and construction materials from iron ore.

Officials cited strong economic performance, with goods and services exports reaching US$18.4 billion and foreign direct investment inflows at US$3.7 billion in 2025. Projected economic growth rates are also robust, driven by the Tenfold Growth Strategy’s focus on agro-industrialization, mineral development, and technological innovation.

Uganda is positioning itself as a strategic manufacturing hub for the East African Community and the African Continental Free Trade Area, offering incentives such as fiscal benefits, industrial parks, rapid business registration, and unrestricted profit repatriation. Thailand’s Ministry of Foreign Affairs has expressed enthusiasm for enhanced economic cooperation.

Source: Nile Post