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Uganda Targets $4bn Green Investments At COP28 In Abu Dhabi

Robert Mukiza, the Director General of UIA

The Uganda Investment Authority (UIA) is scheduled to participate in the 28th Conference of the Parties (COP 28) to the United Nations Framework Convention on Climate Change.

This pivotal event, scheduled to take place from the 30th of November to December 12th, 2023, brings together world leaders, policymakers, and influencers to address the pressing challenges of climate change.

As a statutory Authority, UIA is charged with making provisions for scarce and non-renewable natural resources like minerals, water, and wildlife by attracting technology, skills, and investment for their prudent use in line with government policies, laws, and international obligations.

“We will run an aggressive promotional drive during COP28 to generate US$ 4 billion in climatelinked investment deals and pursue future leads in renewable energy, energy efficiency, sustainable agriculture, waste management, recycling, and green infrastructure,” said Robert Mukiza, the Director General of UIA.

He said Uganda, while a low-carbon investment destination, is ideal for green investments as well as adaptive technologies.

“Uganda offers untapped potential in solar, wind, and hydroelectric power, capitalizing on the growing demand for clean energy solutions. We are also a growing but significant technology hub with attractive prospects in sustainable tourism and the location of one of the world’s largest and most responsible oil and gas projects,” he added.

Uganda is located strategically as a gateway to East Africa with a proven record for its investor-friendly policies and dedicated government support as well as one of the fastest growing economic regions in the world, guaranteeing access to domestic, regional, and global markets (quota-free and tariff-free).

These include; the East African Community (EAC) with a population of over 300 Million people, the Common Market for Eastern and Southern Africa (COMESA) with a population of over 600 Million people, the African Continental Free Trade Area (AfCFTA) with a population of 1.3 Billion people in 55 countries with a combined GDP valued at $3.4 Trillion, Everything But Arms (EBA) with the European Union and Trade agreements with China.

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