Uganda has deepened its strategic economic partnership with China EXIM Bank, as Finance Minister Matia Kasaija met a high-level delegation led by Vice President Dr. Yang Dongning. The meeting was also attended by Dr. Ramathan Ggoobi, Permanent Secretary and Secretary to the Treasury (PSST) at the Ministry of Finance, who represented the Government of Uganda in discussions to accelerate industrialization, investment, and long-term economic growth.
Minister Kasaija emphasized that Uganda’s next phase of economic growth will focus on ATMS, particularly, Agro-industrialization, Trade expansion, and Manufacturing/value addition. The government is prioritizing processing agricultural products such as coffee, tea, cotton, and other crops, while also leveraging Uganda’s mineral and energy resources, including oil and gas, to create higher-value exports as well as tourism, science, technology and innovation.
“The government is positioning itself to move away from exporting raw materials towards processing, manufacturing and high value exports. This partnership with China, particularly through its zero-tariff policy, will open global markets for Uganda’s products,” said Minister Kasaija.
He also underscored the government’s gratitude to the People’s Republic of China for long-term technical and financial support across sectors including transport, energy, and health. He highlighted the importance of continuing collaboration to implement Uganda’s industrialization agenda and enhance the country’s investment climate.
A major initiative from the partnership is the organization of a dedicated “Uganda Day” in China, which will serve as a platform to showcase Uganda’s investment opportunities, connect Ugandan businesses with Chinese investors, and promote trade and financing partnerships.
Both Uganda and China EXIM Bank also agreed to scale up support for industrial parks, focusing on improved land access, utilities, and logistics infrastructure to attract large-scale investments. China EXIM Bank reaffirmed its commitment to Uganda through a diversified financing framework, including; Trade finance to support importers and exporters, Blended financing combining loans and equity, Equity investments and strategic partnerships, and Syndicated financing arrangements and tailored financial products.
Minister Kasaija noted that flexible and innovative financing structures are critical for accelerating priority projects and implementing large-scale industrial initiatives.
Both parties also emphasized the need to strengthen Technical and Vocational Education and Training (TVET) to ensure Uganda has a skilled workforce capable of supporting industrial growth and meeting investor requirements.
This strengthened partnership positions Uganda as a preferred investment destination in Africa, promoting high-value exports, fostering industrialization, and driving the country’s goal of tenfold economic growth in the coming years.
