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The United Arab Emirates (UAE) is pursuing new business opportunities in Uganda, with at least 20 Dubai-based companies seeking investment deals in manufacturing, real estate, healthcare, technology, oil and gas, textiles and agricultural sectors, despite concerns about the competitiveness of Uganda’s logistics value chain.
This contrasts with the significant outflows of cheap Ugandan labour destined for the UAE and other Gulf states, increased imports from Dubai and a strong tourism interest shown by Ugandans towards Dubai City. Despite promises of well-paying jobs and good working conditions from labour export companies, frequent reports of Ugandan migrant workers being mistreated by employers and detained in Dubai prisons for visa violations have tarnished the employment opportunities offered by the Middle East.
The UAE’s investment agenda is focused on increasing foreign direct investment (FDI) flows seen after the Covid-19 lockdown and the rising bilateral trade between Uganda and the Gulf state.
Total FDI inflows into the UAE stood at US$10,7 billion in 2023 but, in the first six months of 2024, the inflows totalled US$5,9 billion, according to data compiled by Dubai Chambers, the UAE’s official business umbrella body. — The East African
Online Reporter