NEWS- The Uganda Investment Authority (UIA) has announced that it will participate in the 28th Conference of the Parties (COP 28) to the United Nations Framework Convention on Climate Change where it will lay opportunities for global investors.
The UN Framework Convention on Climate Change will be held at Expo City; Dubai in the United Arab Emirates (UAE) and this pivotal International event is scheduled to take place from 30th of November to 12th December 2023 and brings together world leaders, policymakers, and influencers to address the pressing challenges of climate change.
As a statutory organisation, Uganda Investment Authority 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.
According to the Director General of Uganda Investment Authority Robert Mukiza, Uganda has a low-carbon investment destination which is ideal for green investments as well as adaptive technologies.
“We will run an aggressive promotional drive during COP28 to generate US$ 4 billion in climate linked investment deals and pursue future leads in renewable energy, energy efficiency, sustainable agriculture, waste management, recycling, and green infrastructure,” Mukiza said.
Mukiza said that 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).
The tariff free markets 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.
