The government has invited Thai investors to explore opportunities in agro-processing, mineral beneficiation, manufacturing, tourism and technology as the country pursues its target of building a US$500 billion economy by 2040.
Finance Minister Henry Musasizi made the appeal at the Uganda-Thailand Economic Networking Dinner held on Monday, October 12, 2026, at the Mandarin Oriental Hotel in Bangkok, Thailand.
Musasizi said Uganda wants to draw on Thailand’s experience in agro-processing, food exports, tourism and high-tech manufacturing to expand production, create jobs and increase export earnings.“Together, let us turn the friendship between our two countries into factories, export growth, jobs and shared prosperity,” Musasizi said.
He identified investment opportunities in coffee processing, processed foods, pharmaceuticals, steel products, fertilisers, cement, meat and dairy processing, tourism and hospitality.
Uganda is also seeking investors to turn its mineral resources into higher-value products.
Musasizi cited opportunities to manufacture electric batteries from lithium, automotive steel and construction materials from iron ore, organic fertilisers from phosphates, and electrical conductors and battery components from copper and cobalt.
He said Uganda’s membership in the East African Community (EAC), with a market of 331.1 million people, and access to the wider African market through the African Continental Free Trade Area provide opportunities for Thai investors to manufacture products in Uganda and distribute them across the region and continent.
Musasizi said the government was improving the investment environment through fiscal incentives, industrial parks and export free zones. Investments in infrastructure, energy, irrigation, information and communications technology, and transport are also intended to reduce the cost of doing business.
He added that investors can register businesses within one day, own 100 per cent of their investments and repatriate profits without restrictions.Permanent Secretary and Secretary to the Treasury Ramathan Ggoobi presented Uganda’s economic performance and export growth as evidence of the investment opportunities available.
Ggoobi said the economy grew by 6.4 per cent in the 2025/2026 financial year, while exports of goods and services rose to US$18.4 billion, representing annual growth of 34 per cent.
Foreign direct investment inflows reached US$3.7 billion in 2025, while tourism receipts increased to US$1.62 billion.
He said Uganda had added 31 new export products over the past 15 years, generating about US$333 million annually.
Economic growth is projected to accelerate to 10.2 per cent in the 2026/2027 financial year, supported by the government’s Tenfold Growth Strategy, which prioritises agro-industrialisation, tourism, mineral development, oil and gas, and science, technology and innovation.
Thailand’s Ministry of Foreign Affairs, represented by Director General Urasa Mongkolnavin, reaffirmed the importance of strengthening bilateral cooperation.
“Let us continue to build a bond of friendship between our two countries,” Mongkolnavin said, adding that Asia was not far from Africa.
Uganda’s High Commissioner to Thailand, Betty Bigombe, also called for deeper engagement between the two countries.
The networking dinner forms part of Uganda’s economic and commercial diplomacy efforts to attract investment, expand export markets, promote value addition and strengthen partnerships aimed at industrialisation and job creation.
Musasizi and a delegation of senior government officials are in Bangkok for the 2026 annual meetings of the International Monetary Fund (IMF) and the World Bank Group.
The delegation includes Ggoobi, Bank of Uganda Governor Michael Atingi-Ego, and other officials from the Ministry of Finance and the central bank.
The annual meetings bring together finance ministers, central bank governors, development partners, private-sector representatives, civil society organisations and academics to discuss the global economy and international policy challenges.
The main themes for this year’s meetings include the global economic outlook, financial stability, poverty reduction, mobilising private capital for jobs and infrastructure, and the role of artificial intelligence in development.
Ahead of the meetings, IMF Managing Director Kristalina Georgieva identified the rapid rise of artificial intelligence, persistently high energy prices and record levels of public debt as major forces shaping the global economy.
She called for decisive policy action, stronger economic growth and international cooperation to address the challenges.
Speaking about artificial intelligence, Georgieva said global investment in AI, relative to gross domestic product, would reach and possibly exceed the amounts invested in building railways, electricity grids and telecommunications networks.“Love it, hate it, or fear it, AI is here, rapidly becoming a key driver of countries’ relative fortunes in the world economy,” Georgieva said.
On the sidelines of the IMF and World Bank meetings, Musasizi and his delegation also participated in the 2026 Combined Forum of the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI). The forum was held under the theme Artificial Intelligence and Data Analytics for Macroeconomic and Financial Policy.
It provided a platform for policymakers and practitioners to discuss how artificial intelligence is changing the financial sector, protecting central bank reserves against shocks associated with foreign exchange transfers, and developing sustainable financing approaches-URN. Give us feedback on this story through our email: kamwokyatimes@gmail.com
