Latest news with #Nankabirwa
Barnama
23-04-2025
- Business
- Barnama
UGANDA SEEKS MALAYSIAN INVESTMENTS IN OIL, GAS AND MINERAL SECTORS
BUSINESS Uganda's Minister of Energy and Mineral Development, Ruth Nankabirwa Ssentamu, speaks at a press conference following the official opening of the Uganda Pearl of Africa Business Forum & Expo 2025, held at the Renaissance Hotel today. By Naveen Prabu Kuppusamy KUALA LUMPUR, April 23 (Bernama) -- Uganda is seeking Malaysian investments in its energy and mineral sectors, with key opportunities in oil refining, critical minerals, and clean energy infrastructure, said its Energy and Mineral Development Minister Ruth Nankabirwa. Nankabirwa said her country has vast resource potential and that her government is prepared to support foreign investors through a clear legal framework. "You will not be left to deal with landowners alone, as the state steps in — the minerals belong to the government, even if the land is privately owned," she said at the Uganda: The Pearl of Africa Business Forum and Expo 2025 here today. She said commercial oil was discovered in 2006, and two development areas are progressing well. "One area at Lake Albert is expected to generate 40,000 barrels of crude oil per day. The second, located towards Northern Uganda, Tilenga, is expected to produce 190,000 barrels per day," she said. She also pointed out the country's rare earth elements, gold, iron ore and copper reserves, adding that Ugandan law prohibits the export of raw minerals without local value addition. 'We don't allow minerals to be exported without value added. We want to industrialise at home. That's why we are inviting investors who are ready to process and partner with us locally,' she said. Nankabirwa noted that Malaysia's experience in palm oil, downstream industries, and solar energy has positioned it as a strategic partner.
Barnama
23-04-2025
- Business
- Barnama
Uganda Showcases Investment Potential At Business Forum & Expo
KUALA LUMPUR, April 23 -- In a bid to position itself as a strategic investment destination in East Africa, Uganda has rolled out the red carpet for Malaysian investors at the Pearl of Africa Business Forum and Expo 2025. Uganda's Minister of Energy and Mineral Development, Ruth Nankabirwa Ssentamu, said the nation is keen to leverage Malaysia's renowned expertise in mineral extraction, oil and gas development, and palm oil production. 'We are here with a delegation to secure opportunities to work together with the people of Malaysia. bootstrap slideshow 'We want to share what Uganda can offer in terms of natural resources, and we hope to build lasting partnerships in the energy and mineral sectors,' she said during a press conference on Wednesday. The two-day forum, which began on Wednesday, was officiated by Uganda's Minister of Finance, Planning and Economic Development, Matia Kasaija. Also present were Nankabirwa and the Minister of State for Animal Industry, Lt. Col (Rtd) Bright Rwamirama. The ministers are also scheduled to hold bilateral discussions and meetings with local technocrats during the business forum. On tourism, Nankabirwa emphasised the importance of strengthening the sector and fostering people-to-people relations between Uganda and Malaysia. She encouraged Malaysians to discover Uganda as a vibrant and diverse travel destination, highlighting the country's rich cultural heritage, natural landscapes, and wildlife. Uganda's High Commissioner to Malaysia, Dr Betty Oyella Bigombe, highlighted that the forum is the first of its kind to be hosted in Malaysia by an East African country, reflecting Uganda's commitment to deepening economic partnerships across Asia.
