Africa is becoming a global investment hub thanks to its
\nyoung workforce, rapid urbanization, and the implementation of the African
\nContinental Free Trade Area (AfCFTA). <\/p>\n
Within this broader context, Uganda has emerged as a key
\neconomy in East Africa, owing to its strategic location connecting the East
\nAfrican Community (EAC). Its rich mineral resources, fertile land, high
\neconomic growth rate, and abundant labor force make Uganda a promising
\ndestination for international investors, including those from Vietnam.<\/p>\n
The assessment was made by Deputy Minister of Foreign
\nAffairs Le Anh Tuan during the “Vietnam-Uganda Business Forum: The Pearl
\nof Africa,” held in Hanoi on August 12.<\/p>\n
In recent years, the traditional friendship between Vietnam
\nand Uganda has seen positive progress. Bilateral trade turnover in 2025 reached
\n$53.4 million, nearly double the $28.6 million recorded in 2024. To date,
\nVietnam has three investment projects in Uganda with a total registered capital
\nof approximately $35 million.<\/p>\n
Despite these positive signals, both sides
\nacknowledge that current trade and investment activities remain relatively
\nmodest. <\/p>\n
\u201cIn reality, economic cooperation between Vietnam and Uganda
\nis still limited and does not yet match the potential and needs of both sides,\u201d
\nsaid Mr. Tuan.<\/p>\n
Explaining why trade and investment have not reached their
\nfull potential, Vice President of the Vietnam Chamber of Commerce and Industry
\n(VCCI) Nguyen Quang Vinh cited limited market information and geographical
\ndistance as factors that prevent many Vietnamese enterprises from fully seizing
\nopportunities in Uganda. Furthermore, high logistics costs and differences in
\nlegal environments, business practices, and corporate cultures remain
\nsignificant bottlenecks hindering investment flows.<\/p>\n
Towards sustainable and mutually beneficial partnership<\/p>\n
To turn potential into substantive cooperation, Deputy Foreign\u00a0 Minister Tuan suggested that the two countries increase the exchange of
\ndelegations at all levels and establish regular connection mechanisms between
\nministries, sectors, and business communities to identify opportunities and
\nresolve obstacles in economic cooperation.<\/p>\n
Both sides need to assist businesses in identifying priority
\nproduct lists and investment policy information, while pushing for the signing
\nof key framework agreements, such as the Double Taxation Avoidance Agreement
\nand the Investment Promotion and Protection Agreement, according to the Deputy Foreign Minister.<\/p>\n
Additionally, there is room for further research and
\ncooperation in emerging sectors such as digital transformation, oil and gas
\nengineering, infrastructure construction, and resource extraction.<\/p>\n
Mr. Vinh emphasized that VCCI would step up the sharing of
\ninformation regarding Uganda\u2019s strengths, such as agricultural products,
\ncoffee, minerals, and tourism. The body will also organize training programs to
\nequip Vietnamese enterprises with the necessary knowledge of local business
\nculture.<\/p>\n
Ugandan Ambassador to Vietnam, H.E. Ms. Betty O. Bigombe, expressed
\nher hope that Vietnamese investors would increase their presence in Uganda to
\nadd value to local products, thereby turning Uganda into a gateway for
\nVietnamese businesses to reach the wider African market.<\/p>\n
Uganda stands ready to cooperate deeply with Vietnam in
\ntechnology transfer, human resource training, and strengthening the links
\nbetween the governments and business communities of both nations, the ambassador said.<\/p>\n","protected":false},"excerpt":{"rendered":"Africa is becoming a global investment hub thanks to its young workforce, rapid urbanization, and the implementation of…\n","protected":false},"author":2,"featured_media":377332,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[58],"tags":[302,83,76437,5408,76439,76440,58472,76438,76442,76443,76441,76444,819,12196,96,261,76436,153,180245,76435],"class_list":["post-377331","post","type-post","status-publish","format-standard","has-post-thumbnail","category-uganda","tag-breaking-news","tag-business","tag-commodity","tag-corporate","tag-economic-news","tag-equity-markets","tag-finances","tag-financial-market-news","tag-foreign-exchange-news","tag-fund-markets","tag-industrial-news","tag-initial-public-offerings","tag-international-relations","tag-investing","tag-news","tag-politics","tag-securities","tag-uganda","tag-vietnam-uganda-cooperation","tag-vietnam-economic-times"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@africa\/117091679884482925","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts\/377331","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/comments?post=377331"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts\/377331\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/media\/377332"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/media?parent=377331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/categories?post=377331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/tags?post=377331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}