In a significant move reflecting its dynamic economic vision, Dubai Chambers has highlighted the burgeoning collaboration between Dubai-based businesses and their counterparts in Uganda.

Bringing prominence to this partnership, Mohammed Ali Rashed Lootah, the Director General of Dubai Chambers, revealed that the number of Ugandan companies operating in Dubai has surged to approximately 148, with 60 new memberships recorded within the first nine months of this year alone.

This growth underscores the attractive investment opportunities and unprecedented support Dubai offers to businesses from all over the globe.

During the first leg of a business delegation tour part of the 'New Horizons for Overseas Expansion' initiative, targeting markets in Uganda and Tanzania, Lootah emphasized Dubai’s unwavering commitment to fostering robust trade and investment partnerships worldwide.

He noted that Dubai actively supports businesses in the emirate in their endeavors to expand internationally, particularly into promising markets like Uganda.

This strategy aims to enhance Dubai's foreign trade growth and solidify its stature as a premier global business hub.

Highlighting Uganda’s significance, non-oil trade between Dubai and Uganda reached an impressive USD 4.4 billion last year.

With numerous positive indicators pointing to increased collaboration potential, ongoing trade engagements promise to be mutually rewarding, especially against the backdrop of burgeoning bilateral trade.

Facilitated by Dubai Chambers, a key player under the Dubai Chambers umbrella, the trade mission led to 308 bilateral meetings in Kampala, Uganda’s capital.

This mission is instrumental in providing local companies opportunities to penetrate international markets noted for their prospects and possibilities.

The mission included a business forum titled 'Doing Business with Uganda,' organized by Dubai Chambers in Kampala with the support of the UAE Embassy there, the Ugandan Embassy in the UAE, the Uganda Chamber of Commerce and Industry, and the Uganda Investment Authority, along with the Private Sector Foundation Uganda.

In a pivotal meeting, Uganda’s Prime Minister, Robina Nabbanja, engaged with the Dubai Chambers delegation, lauding the mission’s success in enhancing economic ties and promoting business partnerships.

She commended the chamber’s efforts in strengthening trade, investment relations, and facilitating dialogues that serve shared interests.

During these fruitful engagements, Dubai Chambers signed a Memorandum of Understanding with the Uganda Chamber of Commerce and Industry, reinforcing their commitment to foster collaboration between Ugandan and Dubai companies.

This agreement includes organizing trade missions, conferences, and business events aimed at knowledge sharing and mutual growth.

The MoU also called for the exchange of information and insights in business policies and investments, setting the stage for enhanced bilateral cooperation.

Attracting 302 participants, including top officials, business leaders, and Ugandan companies keen on exploring partnership opportunities with the Dubai delegation members, the forum proved to be a significant networking platform.

Adding depth to this engagement, Hassan Al Hashemi, Vice President of International Relations at Dubai Chambers, delivered a comprehensive presentation on Dubai’s economic landscape, highlighting the emirate’s competitive advantages for businesses and investors.

Representatives from 29 private sector companies in Dubai, spanning industries like construction, building materials, engineering, food and beverage, logistics, oil and gas, electronics, healthcare, energy, automotive, agritech, and IT, were part of this major trade mission.

Dubai Chambers identified promising sectors for export to Uganda, including laboratory and diagnostic devices, electricity meters, ceramic tiles, cooking oils, and animal feed.

Conversely, lucrative Ugandan investment sectors for Dubai businesses include tourism, agriculture, mining, ICT, electronics, and infrastructure projects such as roads, railways, and water supply.

The 'New Horizons for Overseas Expansion' initiative is an integral facet of Dubai Chambers' efforts to stimulate international growth opportunities for its members, complementing the 'Business Opportunities Under the Microscope' initiative.

Both initiatives align strategically with Dubai’s broader foreign trade agenda, targeting a two-fold increase in non-oil trade to AED 2 trillion by 2026.