Uganda Economy and Business

• GDP: US$9.3 billion (2007).
• Main exports: Coffee, fish and fish products, tea, tobacco and cotton.
• Main imports: Capital equipment, vehicles, petroleum, medical supplies and cereals.
• Main trade partners: Kenya, Belgium, UAE and the Netherlands.

Agriculture dominates the Ugandan economy, accounting for half of total output and employing over 80% of the workforce. The industrial sector produces textiles, cement, fertilisers and metal goods. There are large deposits of copper and cobalt. In addition, there are known deposits of tin, tungsten, beryllium and tantalum ores.

The economy recorded fairly steady economic growth throughout most of the last decade (6% annual growth in 2007) and, in contrast with much of the rest of Africa, has enjoyed a series of good harvests. Inflation was at 5.8% in 2007.

The most pressing problem has been the country's debt burden. Its total external debt now stands at just under US$4 billion. In exchange for debt cancellation programmes, the government has been obliged to introduce a series of economic reforms, principally the removal of price controls and trade restrictions and a reduction in government spending.

Uganda is a member of the African Development Bank and of the Common Market for Eastern and Southern Africa (COMESA). In 2003, Uganda joined with neighbouring Kenya and Tanzania in a plan to revive the East African Customs Union (a previous attempt folded in 1977).

A suit and tie are best worn by men for business meetings. English is used for all business discussions. Appointments should always be made.

Office hours: Mon-Fri 0800-1230/1300 and 1400-1630/1700.

The Uganda International Conference Centre with its main auditorium and three committee rooms has seating for up to 2,000. It is adjacent to the 4-star Nile Hotel and is 3km (2 miles) from the centre of Kampala. The Speke Resort & Country Lodge Munyayo, with 10 state-of-the-art conference rooms with modern facilities, has a capacity of over 3,000 people. For further information, contact the Uganda Tourist Board (see Contact Addresses).

Uganda Investment Authority
PO Box 7418, Investment Centre, Plot 22B, Lumumba Avenue, Kampala, Uganda
Tel: (41) 301 000.
Website: www.ugandainvest.com