The 2nd Uganda-Tanzania Business Forum is set to take place on May 23-24, 2024, at the Johari Rotana Hotel in Dar es Salaam, Tanzania. The event aims to strengthen the longstanding ties between the two nations and foster economic cooperation.
The forum, themed “Enhancing our win-win bilateral partnership,” will bring together government officials, private sector stakeholders, and investors to promote trade, investment, and partnership opportunities between Uganda and Tanzania.
John Mulimba, Minister of State for Foreign Affairs in Charge of Regional Affairs, emphasized the significance of the forum in strengthening bilateral relations. “The Forum is a collaborative initiative between our governments and private sector stakeholders, building upon the success of our inaugural gathering in 2019,” he said. “It is a vital platform for promoting trade, investment, and partnership opportunities between Uganda and Tanzania.”
The event will feature a two-in-one format comprising a Trade Exhibition and an Investment Forum, enabling participants to showcase their capabilities and explore potential collaborations. The forum will also highlight specific investment opportunities in priority sectors, including extractives, agriculture, manufacturing, and tourism.
Tanzanian investors are entitled to benefits such as a 10-year tax holiday and access to land in gazette industrial parks equipped with essential infrastructure. Over the past five years, Uganda has attracted 12 significant projects amounting to USD 474,191,143 in investment, contributing to creating 7,465 jobs.
The forum is a testament to the commitment of both nations to deepen economic ties and create a conducive environment for business growth and innovation. By leveraging their comparative advantages, Uganda and Tanzania are poised to realise shared goals of sustainable development and inclusive growth.
The event is organised by the Ministry of Foreign Affairs, in collaboration with the Uganda Investment Authority, the Private Sector Foundation Uganda, and the Uganda High Commission in Tanzania.
Incentives for Tanzanian investors include a 10-year tax holiday and access to land in gazette industrial parks. The forum will also promote specific investment opportunities in key sectors such as agro-value addition, manufacturing, mineral value addition, oil and gas, tourism, and science and technology.
Uganda has a track record of success, attracting 12 significant projects worth USD 474,191,143 in investment over the past five years, creating 7,465 jobs. The government has also made collaborative efforts with diplomatic missions and the private sector to promote and increase investments in priority sectors.
In addition, Uganda has officially adopted Swahili as its second official language, with efforts to reintroduce it into the national curriculum and promote linguistic integration and people-to-people diplomacy. Infrastructure developments, including the rehabilitation of the Mutukula-Masaka road and the Standard Gauge Railway (SGR) infrastructure project in Tanzania, are also aimed at improving transportation infrastructure and reducing transport costs.
Private sector support from organisations such as the Private Sector Foundation Uganda (PSFU) and the Uganda Investment Authority (UIA) will also facilitate trade and investment.