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Home»Business»UGANDANS IN KOREA ASKED TO MOBILIZE CAPITAL AND DRIVE UGANDA’S $500BILLION ECONOMY
Business

UGANDANS IN KOREA ASKED TO MOBILIZE CAPITAL AND DRIVE UGANDA’S $500BILLION ECONOMY

felix@elixnews.co.ugBy felix@elixnews.co.ugSeptember 6, 2026No Comments2 Mins Read
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Uganda’s Ambassador accredited to South Korea, H.E. Tophace Kaahwa has urged its diaspora community residing in South Korea to actively participate in national transformation by mobilizing private capital to drive technology transfer and forge cross-border business partnerships.

Addressing over 650 Ugandans based in Korea, he characterized the diaspora as essential partners in economic and commercial diplomacy.

Ambassador Kaahwa called on Ugandans living abroad to direct investments into high-value domestic sectors, including agro-industrialization, tourism, mineral processing, and science, technology, and innovation.

Second Deputy Prime Minister Dr. Crispus Kiyonga urged the diaspora community in the Republic of Korea to leverage their skills, networks, and capital to advance national development and help scale Uganda’s economy to USD 500 billion by 2040.

The Second Deputy Prime Minister and Head of the Ugandan Delegation, Rt. Hon. Dr. Crispus Kiyonga, delivered fraternal greetings from H.E. President Yoweri Kaguta Museveni and commended the community for preserving unity while representing Uganda’s commercial interests abroad.

Dr. Kiyonga highlighted the government’s long-term economic roadmap, which targets expanding the national economy to USD 500 billion by 2040.

He emphasized that achieving this macroeconomic goal depends on strategic investments in industrialization, energy expansion, modern transportation infrastructure, and private-sector partnerships.

The delegation highlighted ongoing administrative efforts to implement a streamlined Diaspora Policy, designed to safeguard diaspora interests, facilitate knowledge sharing, and streamline remittances and investment procedures back home.

Government representatives affirmed that economic diplomacy and active diaspora engagement remain central to enhancing Uganda’s global competitiveness and accelerating sustainable economic growth.

The diplomatic outreach was organized by the Uganda Embassy in Tokyo (concurrently accredited to the Republic of Korea) in Seoul, serving as a precursor to the Uganda–Korea Trade and Investment Meeting scheduled for September 6–10, 2026, in partnership with the Korea International Trade Association (KITA).

Uganda and the Republic of South Korea maintain strong, long-standing diplomatic, developmental, and economic relations that span over six decades

The two countries regularly hold bilateral meetings and high-level exchange visits. Ugandan leadership (including the Office of the Prime Minister and Parliament) frequently engages South Korean special envoys and parliamentary delegations to collaborate on international development, regional stability, and global goals

Uganda actively leverages its diaspora community residing in South Korea (numbering over 650 people) as vital economic ambassadors to boost technology transfer, skills development, and bilateral ties

 

BANK OF UGANDA KACITA UGANDA KCCA MAKERERE UNIVERSITY MINISTRY OF DEFENCE MINISTRY OF FINANCE MINISTRY OF FOREIGN AFFAIRS MINISTRY OF LOCAL GOVERNMENT MINISTRY OF PUBLIC SERVICE MINISTRY OF TRADE PARLIAMENT OF UGANDA PSFU UGANDA UCC UGANDA INVESMENT AUTHORITY UGANDA POLICE URA
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Previous ArticleUGANDA RALLIES ITS DIASPORA IN KOREA FOR INVESTMENT AS TRADE TALKS OPEN
Next Article UNBS,IEC COLLABORATE TO STRENGTHEN SAFETY OF ELECTRICAL PRODUCTS
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Health

HEALTH CRISIS: 80 UGANDAN DISTRICTS HAVE NO HOSPITALS

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HEALTH CRISIS: 80 UGANDAN DISTRICTS HAVE NO HOSPITALS

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