UGANDA COURTS THAI INVESTORS TO DRIVE INDUSTRIAL GROWTH Uganda has invited Thai investors to tap into opportunities in agro-processing, mineral beneficiation, tourism, manufacturing and technology as the country accelerates its drive towards a US$500 billion economy by 2040. The call was made by the Finance Minister @henrymusasizi1 during the Uganda-Thailand Economic Networking Dinner held on Monday, October 12, 2026, at the Mandarin Oriental Hotel in Bangkok, Thailand. Musasizi said Uganda is seeking to build on Thailand’s experience in agro-processing, food exports, tourism and high-tech manufacturing to expand production, create jobs and increase export earnings. “Together, let us turn the friendship between our two countries into factories, export growth, jobs and shared prosperity,” Musasizi said. He highlighted investment opportunities across the agricultural and industrial value chains, including coffee processing, processed foods, pharmaceuticals, steel products, fertilisers, cement, meat and dairy processing, tourism and hospitality. Uganda is also positioning its mineral resources as a foundation for higher-value manufacturing. Musasizi identified opportunities to produce electric batteries from lithium, automotive steel and construction materials from iron ore, organic fertilisers from phosphates, and electrical conductors and battery components from copper and cobalt. He said Uganda’s position within the East African Community, with a market of about 530 million people, together with access to the wider African market through the African Continental Free Trade Area, provides Thai investors with a strong platform for regional and continental production. Uganda is further strengthening the investment environment through fiscal incentives, industrial parks and export free zones, while investments in infrastructure, energy, irrigation, ICT and transport continue to reduce the cost of doing business. Musasizi said investors can register businesses within one day, own 100% of their investments and repatriate profits without restrictions. The Permanent Secretary and Secretary to the Treasury @rggoobi presented Uganda’s economic performance and the expanding export base as further evidence of the opportunities available to investors. He said the economy grew by 6.4% in FY2025/26, while exports of goods and services rose to US$18.4 billion, representing annual growth of 34%. Foreign direct investment inflows reached US$3.7 billion in 2025, while tourism receipts increased to US$1.62 billion. Ggoobi also noted that Uganda has added 31 new export products over the past 15 years, generating about US$333 million annually, reflecting growing diversification of the country’s export base. He said Economic growth is projected to accelerate to 10.2% in FY2026/27, supported by the Government’s Tenfold Growth Strategy and investments in agro-industrialisation, tourism, minerals and oil, and science, technology and innovation. Thailand’s Ministry of Foreign Affairs, represented by Director General Urasa Mongkolnavin, reaffirmed the importance of strengthening bilateral cooperation. “Let us continue to build a bond of friendship between our two countries,” Mongkolnavin said,adding that Asia is not far from Africa. Uganda’s High Commissioner to Thailand, Betty Bigombe, also called for deeper engagement between Uganda and Thailand. The engagement is part of Uganda’s broader economic and commercial diplomacy efforts to attract investment,tourists, expand export markets, promote value addition and strengthen partnerships that support industrialisation and job creation. #TenfoldGrowth

MUSASIZI IN THAILAND FOR THE 2026 ANNUAL MEETINGS OF IMF AND WORLD BANK GROUP Finance Minister @henrymusasizi1 accompanied by the Permanent Secretary and Secretary to the Treasury Dr @rggoobi, Governor Bank of Uganda, Dr Michael Atingi-Ego and other senior @mofpedU & Bank of Uganda officials are in Bangkok,Thailand for the 2026 annual meetings of the International Monetary Fund (IMF) and World Bank Group. The Annual meetings have brought together Ministers of Finance, Central Bank Governors, Development Partners, the Private Sector, Civil Society and Academics to discuss the state of the global economy and issues of international concern. The core themes for the 2026 annual meetings are: Global economic outlook, financial stability, poverty reduction, mobilizing private capital for jobs and infrastructure, and artificial intelligence (AI) in development. Ahead of the annual meetings, IMF Managing Director Kristalina Georgieva set the stage for the discussions highlighting three major forces shaping the global economy and these are; the rapid rise of AI, persistently high energy prices, and record levels of public debt. She called for decisive policy action, stronger growth, and international cooperation to navigate an increasingly complex global landscape. Speaking about AI, the IMF Managing Director said global investment-to-GDP in AI will reach and likely exceed the amounts that went into building the railroads, the electricity grid, or the telecommunication network. “Love it, hate it, or fear it, AI is here, rapidly becoming a key driver of countries’ relative fortunes in the world economy,” said Kristalina. On the sidelines of the IMF/Word Bank meetings, the Finance Minister and his delegation participated in the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI) combined Forum 2026 under the theme: Artificial Intelligence and Data Analytics for Macroeconomic and Financial Policy. The Forum provided a platform for policy makers and practitioners to share practical experiences and perspectives on how AI is transforming the financial sector, how to protect Central Banks reserves from spikes in foreign exchange transfers and building a path towards sustainable financing among other policy issues. H.E Ambassador Betty Bigombe, High Commissioner of the Republic of Uganda, accredited to Malaysia and Thailand also participated in the MEFMI Forum.

FROM DIALOGUE TO PIPELINE AT 8TH EAST AFRICA CLIMATE FINANCE DIRECTORS’ LEVEL MEETING At the 8th East Africa Climate Finance Directors' meeting in Kampala this week,discussions shifted from dialogue to action, focusing on how to turn climate priorities into financially viable investments. Delegates examined project preparation for climate investment and developed regional project concept notes. Partner countries identified priority investment opportunities with potential for national and regional climate impact. In her closing remarks, Gloria Gasasira, Director of Financial Markets Development at the Bank of Uganda, offered a central bank perspective, noting that droughts and floods can disrupt production, affect prices, and impair borrowers’ ability to repay, making climate risk a key factor for consideration in the financial sector. She said climate projects require a viable financing plan, including clear business models, revenue streams, credible partners, and appropriate risk management plan to attract investors. The two-day meeting concluded with a clear message: East Africa’s climate finance challenge is not only about mobilising funds, but also about building the institutions, pipelines, instruments, and regional mechanisms necessary to convert available finance into investable and impactful development. #ClimateFinance

GGOOBI MOBILISES LONG-TERM FINANCING FOR UGANDA'S PRIORITY INFRASTRUCTURE The Permanent Secretary and Secretary to the Treasury (PSST), Dr @rggoobi has concluded high-level talks in London,United Kingdom aimed at securing billions of dollars in long-term financing for flagship projects under Uganda’s Tenfold Growth Strategy. The mission engaged European export credit agencies (ECAs), international lenders and multilateral partners to mobilise affordable capital for the Standard Gauge Railway, power transmission, commercial irrigation, strategic road networks, healthcare and industrial manufacturing. Discussions focused on competitively priced, long-term credit and guarantees to attract private capital and improve financing affordability, including potential World Bank-backed arrangements. Institutions engaged included: Standard Chartered Bank, Citibank, the World Bank and European ECAs. Dr. Ggoobi also met portfolio investors, encouraging increased investment in Uganda, citing attractive returns and the country’s strong macroeconomic performance. He emphasised that financing must translate into completed projects that lower business costs, strengthen export competitiveness and create jobs, while safeguarding long-term debt sustainability. The PSST was accompanied by Mr. Juvenal Muhumuza, Commissioner for Development Assistance and Regional Cooperation at @mofpedU Dr. Ggoobi agreed with partners on next steps to advance priority projects through technical appraisal, negotiation of financing terms and the required approvals. #TenfoldGrowth #USD500billionEconomy #DoingMore