INVESTMENTS: RDB moves to increase investments upcountry

The proposal to attract investors upcountry is expected in June. The Rwanda Development Board (RDB) is devising means to increase investments in the four provinces of the country in order to spearhead economic development from all frontiers. The RDB Principal Deputy Chief Executive Office (CEO), George Mulamula, said that since the rural areas of Rwanda constitute 80 percent of the population, it is important to develop these areas. Rwanda’s four provinces comprising of 27 districts include the eastern, western, northern and southern are regarded as the rural areas of the country while Kigali City has three districts. “This will reduce city immigrants and promote development across the country. ”The Rwamagana District Mayor in the Eastern Province, Valens Ntezirembo echoed the importance of investments upcountry especially in job creation. In efforts to achieve this, provincial governors and district mayors convened in a half day workshop organised by the eight government agencies’ institution (RDB). Rosemary Mbabazi, the RDB Acting Director General in charge of Investment Promotion proposed that each province will have to identify three investment projects ready for promotional. “They should be long term investments,” she stressed. “There is also the need to identify and establish state of art industrial parks. RDB will support a feasibility study, costing of the parks and then include them in the institutional budget.” Clare Akamanzi, the RDB Deputy CEO Business Operations and Services asked governors and mayors to draft incentives that may attract investors. “This will help the RDB expert to develop a comprehensive investment incentives proposal that will be presented before government for deliberation,” she explained. The proposal to attract investors upcountry is expected to be tabled in June. Other suggestions to realise an increase of investments include the need to development provincial and district websites hyperlinked to that of RDB, which is expected to operational by end of May. The move comes at a time when only 19 percent of investments registered last year are in the countryside of Rwanda. Investments worth $230 billion were recorded in 2008. The Rulido District Mayor, Justus Kangwagye applauded the move saying that it will may accelerate economic development. “Province leader are the right people to articulate development plans since the there are the ones behind their formulation,” he explained. Ends