28 May 2012: The Gulf Cooperation Council (GCC) Investment Forum has concluded with millions of dollars being pledged for the development of agribusiness, green industry, renewable energy, education and health in Uganda.
The Forum, which was held from 28-29 May 2012, in Kampala, Uganda, was themed “Uganda: A country of opportunity and prosperity.” It provided a platform for Ugandan businesspeople to meet counterparts from GCC member States, namely Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE), and hold discussions aimed at boosting trade between Uganda and GCC countries.
During the Forum, approximately 600 bilateral meetings were held and 200 business project ideas developed. In addition, during the Forum, the Chairman of the UN Industrial Development Organization (UNIDO) Arab Regional Centre for Entrepreneurship and Investment Training (ARCEIT) committed to support Uganda in its economic empowerment endeavors, and the Ugandan Government expressed interest in funding a US$440 million infrastructure project through public-private partnerships.
The Forum was co-organized by UNIDO, the Government of Uganda through the Uganda Investment Authority (UIA), the Arab Bank for Economic Development in Africa (BADEA), the Federation of GCC chambers of commerce and the Islamic Development Bank (IDB).