Rwanda has intensified campaign to engage in close business ties with foreign countries in order to boost investments at home.

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investment

The small central African nation which targets to become a middle income nation by 2020 has established joint business ties with countries like Kenya, Uganda, Turkey, India among others whereby investors from these countries have started investing in Rwanda in various sectors like manufacturing, tourism and hospitality, telecommunication, energy, education, agriculture among others.

Rwanda has gone ahead to enhance investments by introducing a new investment law that clarifies potential investment opportunities in the country as well as the key areas the government is marketing to investors.
The investment law, launched in Kigali last month to replace one enacted in 2005 that was limited in scope, seeks to bring 1.12 billion U.S. worth of foreign direct investments (FDIs) by the end of the year.

Figures from Rwanda Development Board (RDB) put the country’s actual FDIs at 257 million U.S. dollars in 2013 and 521 million U. S. dollars in 2014.

Speaking to Reporters on Monday, Francis Gatare, chief executive officer at RDB said that there are investment opportunities currently untapped in sectors such as infrastructure, housing, mining and logistics in the country.
“We have established joint business forums with members of the business community from several countries including our neighbours in the East Africa region in order to increase more trade and investmenst,” he says.
Rwanda and Kenya last Saturday launched a joint forum that seeks to strengthen business and investment opportunities between two countries.

The joint business venture will lay a foundation for members of the private sector to explore business opportunities between two countries that enjoy cordial diplomatic ties.
According to 2014 World Bank’s Doing Business ranking, Rwanda was ranked 46 out of 189 economies surveyed globally registering improvements in the ease of obtaining construction permits, getting electricity and getting credit.

The post Genocide country members of the business community also entered into a business joint forum with Turkey investors to exploit investment opportunities within Rwanda.

Rwanda Active Businessmen Association (RWABA) is directly linked to Tuskon, a confederation of Turkish businessmen and industrialists.

An Ernst & Young’s report titled, ‘Africa 2014: executing growth’ South Africa, Egypt and Morocco, respectively, topped the list of 15 countries on the continent that have enjoyed a dominant share of FDI between 2007 and 2013.
Rwanda made it to that list in 15th place behind its East African counterparts Kenya, Tanzania and Uganda which were ranked 6th, 10th and 11th, respectively.

The country will next year host African Hotel Investment Forum (AHIF), a high level meeting that brings together top global hotel operators and policy makers. AHIF is the premier hotel investment conference in Africa, attracting many prominent international hotel owners, investors, financiers, management companies and their advisers. Enditem

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