Deputy Foreign Minister Le Anh Tuan attends 'The Pearl of Africa: Uganda Business Forum & Expo Vietnam Chapter'
WVR - On the morning of August 12 in Hanoi, Deputy Minister of Foreign Affairs Le Anh Tuan attended "The Pearl of Africa: Uganda Business Forum & Expo Vietnam Chapter".
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| Deputy Minister of Foreign Affairs Le Anh Tuan and delegates at The Pearl of Africa: Uganda Business Forum & Expo Vietnam Chapter. (Source: VGP) |
The event was organized by the Ugandan High Commission in Kuala Lumpur (Malaysia) in collaboration with various ministries, investment promotion agencies, trade and tourism bodies of Uganda, and the Vietnam Chamber of Commerce and Industry (VCCI).
The forum is a key initiative in Uganda's Economic and Trade Diplomacy Strategy, aimed at enhancing bilateral relations between Uganda and Vietnam and positioning Uganda as a leading gateway for Vietnamese businesses to access the African market.
The event attracted over 300 delegates, including government delegations from Uganda and Vietnam, business leaders and investors from Vietnam's leading corporations, representatives from Uganda's private sector, the Ugandan diaspora, small and medium enterprises, financial institutions, and development partners.
In his opening remarks, Nguyen Quang Vinh, Vice President of VCCI, emphasized that the strong participation of business representatives from both countries at the forum is clear evidence of the growing interest within the business community in strengthening investment cooperation between Vietnam and Uganda.
Noting that Vietnam-Uganda economic cooperation remains modest compared to its potential, Deputy Minister of Foreign Affairs Le Anh Tuan stated that the relevant authorities of both countries need to closely coordinate to support businesses in accessing market information, cooperation opportunities, priority product lists, policies, and each other's investment environment.
For her part, Ugandan Ambassador to Vietnam Betty Bigombe highlighted that with Vietnam's industrial strengths and Uganda's abundant resources, competitive labor costs, and access to the African market, both sides have a unique opportunity to build partnerships that create jobs and shared prosperity.
Uganda and Vietnam established diplomatic relations in 1973. The relationship is built on the foundation of South-South cooperation, industrialization, and agricultural transformation.
The partnership between the two countries gained further momentum following the state visit to Vietnam by President Yoweri Kaguta Museveni in November 2022. Although the political foundation between the two countries is very solid, economic cooperation remains modest with ample room for growth.
In 2024, the total bilateral trade volume reached USD 22.1 million; by 2025, this figure had increased more than fourfold to approximately USD 95.47 million. Of this, Uganda imported goods worth USD 45.62 million from Vietnam, primarily including animal feed, cement clinker, finishing agents and dye carriers, electric batteries for storage, garments, footwear, and veneer wood.
In 2025, Uganda's exports to Vietnam reached USD 49.85 million, with key products being coffee, cotton, and meat. This trade balance presents a clear opportunity for Uganda to increase exports of agricultural products and natural resources, while enabling Vietnam to expand investment in manufacturing and value-added sectors in Uganda, serving both the Ugandan and broader African markets.
Regarding investment, Vietnam has committed to investing approximately USD 40 million in Uganda, primarily focusing on the mining and construction sectors.
The forum introduced investment opportunities in Uganda across sectors such as agricultural processing, industrial production, information technology and business process outsourcing services, tourism, minerals and mining, oil and gas, pharmaceuticals, and renewable energy.
The forum will also contribute to expanding the market for Ugandan exports such as coffee, tea, meat, fruits, seafood, leather, and textiles into Vietnam, while promoting Vietnamese manufactured goods to access the Ugandan and broader regional markets.
A key focus of the forum is business-to-business connections, linking businesses with government agencies, networking sessions, and practical study tours.
Policy dialogue will focus on harmonizing legal regulations, including negotiations on a Bilateral Investment Promotion and Protection Agreement and a Double Taxation Avoidance Agreement.
