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Uganda, China Forge New Frontiers In strategic Investment

CB Reporter by CB Reporter
2 months ago
in News
Reading Time: 4 mins read
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In a significant boost to bilateral economic ties, the Embassy of the Republic of Uganda in China, in collaboration with the Uganda Consulate in Guangzhou and the Liaoning Provincial Department of Commerce, successfully hosted the inaugural Uganda–China (Liaoning) Mining and Petroleum Investment Promotion Conference in Shenyang.

This high-profile event, held on March 28, 2025, underscored Uganda’s growing commitment to attracting foreign direct investment into its burgeoning mineral and energy sectors.The conference brought together senior government officials, industry leaders, and investors from both nations, highlighting a renewed drive to strengthen economic cooperation and unlock opportunities in Uganda’s resource-rich extractive sector.

Speaking at the conference, Eng. Irene Pauline Bateebe, Permanent Secretary of Uganda’s Ministry of Energy and Mineral Development, underscored the country’s vast mineral and petroleum wealth, coupled with a supportive policy framework designed to attract global investors.

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“Uganda is rich in minerals and petroleum resources, and we are building the right legal frameworks, infrastructure, and incentives to ensure value addition, sustainability, and returns on investment,” she stated, inviting Chinese companies to tap into the nation’s vast opportunities.

The event follows the landmark elevation of Uganda-China relations to a Comprehensive Strategic Partnership in 2024, a diplomatic milestone that has opened new doors for trade, investment, and industrial collaboration. This sentiment was echoed by Uganda’s Ambassador to China, H.E. Oliver Wonekha, and the Consul General in Guangzhou, Judyth Nsababera, who reinforced Uganda’s vision for mutually beneficial economic partnerships.

Presidential Endorsement and Strong Bilateral Commitments in a special video address, President Yoweri Kaguta Museveni reaffirmed Uganda’s openness to foreign investment and its long-term commitment to working with China.

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“Uganda is stable, open, and eager to work with long-term partners. We welcome you to be part of our transformation journey,” he said, assuring investors of strong government support.

The forum also celebrated deepening sub-national cooperation, particularly through the sister-city agreement between Jinja and Shenyang, which is expected to bolster trade, educational exchanges, and infrastructure development between the two cities.Showcasing Uganda’s Competitive EdgePresentations from the Uganda Investment Authority (UIA), the Ministry of Energy and Mineral Development, and the Uganda Chamber of Mines and Petroleum outlined key incentives, investment-ready projects, and ongoing reforms aimed at reducing bureaucratic hurdles and enhancing investor confidence.

Major Chinese corporations, including CNOOC (China National Offshore Oil Corporation), showcased their impactful work in Uganda’s oil and gas sector, where they have created thousands of jobs and championed environmentally sustainable development practices.

The Liaoshen Industrial Park, already operational in Kapeeka, Uganda, shared its success story and invited further Chinese partnerships in industrialization and manufacturing.China’s Commitment to Strengthening Economic TiesMr. Cui Changzheng, Deputy Secretary General of the People’s Government of Liaoning Province, hailed the rapid growth in Uganda-China trade, which surged by over 78% between 2023 and 2024.

He expressed Liaoning’s commitment to expanding collaboration with Uganda, particularly in infrastructure, agriculture, and manufacturing.A Call for Deeper Business EngagementThe Uganda Embassy in China used the conference to extend a formal invitation for a Chinese business delegation to visit Uganda.

The proposed delegation aims to enable investors to explore firsthand the wealth of opportunities in Uganda’s extractive and broader economic sectors.“Uganda is not just open for business. We are building an economy that works for the future. Join us,” Ambassador Nsababera stated in her closing remarks, urging Chinese investors to seize the available opportunities.Amb. Added that Among Uganda’s most promising sectors is mining, where we are rich in untapped mineral resources, including gold, rare earth elements, copper, and lithium.

With a strong focus on value addition, transparency, and sustainable resource management, Uganda is positioning itself as a premier mining investment destination in Africa. She said,such as streamlined licensing processes and investor-friendly regulations are needed to ensuring that mining projects in Uganda are not only secure but also profitable and impactful.

The event concluded with a strong commitment from both sides to deepen investment ties, further industrialize Uganda’s economy, and reinforce the long-standing friendship between Uganda and China.Looking AheadAs Uganda continues its march towards economic transformation, its leaders remain committed to forging strategic partnerships that drive prosperity, innovation, and sustainable development.

The success of the Uganda–China (Liaoning) Mining and Petroleum Investment Promotion Conference is a testament to this unwavering mission, signaling the dawn of a new era in Uganda-China economic cooperation.

The Embassy of Uganda extends its sincere gratitude to all partners and participants who contributed to the success of this landmark event, marking another milestone in the deepening of Uganda-China relations.

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CB Reporter

The no.1 campus news site in Uganda. For articles, send us an email on: editorial@campusbee.ug to feature on Campus Bee, Join our WhatsApp group for all the lates news; https://whatsapp.com/channel/0029Va8u5yI1NCrcxsFHQj3v

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