Rwanda’s development agency, Rwanda Development Board (RDB) recorded a whopping $45.6 million in April from ten registered investments projects, according to the institution’s monthly statement. The value of registered investments represents a 63 percent over that recorded in March, but a great slip compared to the value of February that recorded $125 million in investments. According to a statement, natural resources (water and energy) attracted the biggest investment of $19.6 million (Rwf11.2 billion) among the ten projects form six sectors recorded in April. A food processing project worth $10.4 million (Rwf5.9 billion) was the second highest investment trailed by the banking services sector investment valued at $9.1 million (Rwf5.2 million). Rwanda’s second biggest foreign exchange earner hotel and tourism attracted investments worth $3.6 million while construction’s three recorded projects attracted an investment worth $2.6 million (Rwf1.5 billion). Manufacturing trailed in the month of April as it recorded a miserable investment of US $0.6 (Rwf326 million) during the month. “The projects are expected to create 534 jobs upon starting operations,” the monthly statement projects. The planned jobs from April investment projects are 29 percent more than those expected from projects registered in March. The statement also highlighted several achievements recorded by the agency, as the country aims for atwo digit ranking in the next World Bank Doing Business Report rankings. Currently Rwanda stands at 139 on the global financial institution’s 2008/09 doing business report. Some of the achievements include the signing and gazetting of the company law that stipulates no requirement for certifying documents. The gazetted new commercial law also outlines protection of minority shareholders. The institution also commissioned the National Doing Business Taskforce (NDBT) to put in place the institutional framework that will guide the business reform agenda. Ends
