Dubai World to invest Frw12 billion in tourism

Dubai World will invest $230 million (about Frw12.5 billion in eight tourism facilities in the country, a statement from Rwanda Investment and Export Promotions Agency (Riepa) says. Claire Akamanzi, the deputy director general—Riepa named some of the investments as luxury hotels; a residential golf course development; residential, high-end eco lodges; and the 1,080 square kilometre Akagera National Park. “This is the biggest investment we have attracted. Our target this financial year is 229 million. This is more than half that target,” Akamanzi who was all smiles said. The assets will be developed and managed through Dubai World, a major holding company based in the United Arab Emirates (UAE). The company signed a memorandum of understanding with (MOU) with the State minister for investment promotion and industry Vincent Karega. The MOU saw the formation of partnerships between the Republic of Rwanda and Dubai World. Ends