Uganda to offer Thai investors 10-year tax holidays

What the report says

Uganda has pitched a package of incentives to Thai investors, including 10-year tax holidays for qualifying manufacturers and agro-processors, full foreign ownership in businesses and unrestricted repatriation of profits. According to The Independent Uganda, the offer was presented on Monday at an economic networking dinner in Bangkok, held alongside the World Bank Group and International Monetary Fund annual meetings.

Finance minister Henry Musasizi and treasury permanent secretary Ramathan Ggoobi told Thai officials, investors and business leaders that Uganda wants to attract capital into agriculture, manufacturing, mining, tourism and related services. The delegation said investors could benefit from one-day registration, duty exemptions on machinery and industrial inputs, serviced industrial parks and free zones, and subsidised land. The officials also highlighted possible returns in areas such as agro-processing, light manufacturing, tourism and hospitality, fintech, data centres and electronics.

The report says Uganda is seeking to move away from exporting raw materials and instead process more of its minerals and crops at home, including coffee and mineral resources such as lithium, iron ore, phosphates, copper and cobalt. Uganda’s High Commissioner to Thailand, Betty Bigombe, helped organise the event, and Bank of Uganda Governor Michael Atingi-Ego was also in the delegation. Thai officials said there was room for deeper economic cooperation, while organisers said investors showed interest in sectors including mining, oil and gas, manufacturing and tourism.

The outreach comes as Uganda pursues a long-term goal of expanding its economy substantially by 2040. The broader context, based on the published report, is that Uganda is trying to widen foreign investment ties in Asia at a time when trade with Thailand remains relatively small.