China investment

While Burundi is facing a two-year long crisis following President Nkurunziza’s third term bid, the east African country’s investment promotion authority has made “outstanding” achievements, the investment authority chief told a press conference on Tuesday.

“The Burundi Investment Promotion Authority (API) has registered 616 new businesses through the authority’s electronic single window during the first three months of this year (2017) while during the same period of last year (2016), 532 new businesses were registered. This is an increase of 15.7 percent,” Didace Ngendakumana, Director of the Burundi Investment Promotion Authority (API) said.

He indicated that out of 320 certified projects registered at the creation of the API, 221 of them are still operational and 99 of them are owned by foreigners.

He encouraged businesspersons still working in the informal sector to formalize their businesses by seeking the Authority’s services.

“We (API) are however facing some challenges including insufficiency of logistical means and qualified agents in some departments. In addition, some businesspersons are reluctant to supply data to our agents when we need them,” Ngendakumana said. Enditem

Source: Xinhua/