National FDI triple to Rwf151.1 b

The inflow of operational Foreign Direct Investment (FDI) registered in the country has increased by 65 percent from Rwf52.8 billion recorded in 2005 to Rwf151.1 billion in November last year, official figures from Rwanda Investment and Export Promotion Agency (RIEPA) have shown. But, the agency which was merged with others to form the Rwanda Development Board (RDB) noted that there have been fluctuations in the investment trend since 2002. The investment board attributes the increase in investment inflow to the creation of a One Stop Centre (OSC) at the agency and the business reforms that were embarked on. According to the report form the investment board, a big chunk of FDI into Rwanda amounting to Rwf134.6 billion originated from Asia, accounting for 89 percent of the total volume of investment. Statistics show that investments from Africa contributed 6 percent of the total FDI equivalent to Rwf9.43 billion. North America and the European Union (EU) are said to have contributed Rwf71.2 billion, representing three percent and two percent respectively. In 2007 Last year FDI investments amounted to Rwf125.9 billion against Rwf146.1 local investments. Considering investment distribution by sector, the board says that hotel sub-sector contributes more than other sectors with 66 percent of the value of total operational projects, equivalent to Rwf146 billion. Ends

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National FDI triple to Rwf151.1 b