Foreign investments hit Rwf 600bn

KIGALI - The Foreign Direct Investment (FDI) has increased to Rwf 600billion from Rwf 18 billion since 2001. The Head of Division, Investment Promotion and Information in Rwanda Development Board (RDB), Vivian Kayitesi, has revealed. Addressing a press conference at the Ministry of Trade and Commerce headquarters yesterday Kayitesi attributed the increase to the three World expos that Rwanda has taken part since 2000. The conference was called to give an update on Rwanda’s performance at the ongoing Shanghai Expo. “Because taking part in these forums and following up on the leads and not just getting the contacts, has really contributed to Rwanda’s FDI,” Kayitesi said. The country is among the 42 African countries taking part in Shanghai Expo that started in May and is scheduled to last for five months. It also took part in the German and Japan Expos in 2000 and 2005 respectively. Kayitesi added that three Chinese companies agreed to invest in Rwanda in the energy sector. They are Hydro China which deals in the hydro products, Waste Management Company and a Chinese Industrial Park. This follows Prime Minister Bernard Makuza’s meeting with over 100 Chinese investors during his visit to the Asian country on Rwanda Day at the Expo held on July 4. Emmanuel Hategeka, the Permanent Secretary in the Ministry of Trade and Commerce, who is also Rwanda’s Commissioner General on the Expo committee, said that over 1.5m people had visited Rwanda’s stand at the expo in the first 69 days. The Shanghai Expo, held under the theme: “Better City, Better Life”, aims at ensuring well-planned cities and protecting the environment among others. It is expected to attract over 70m visitors. Hategeka who said that “China is the market we have not exploited” added that Rwanda is exhibiting its new face, investment opportunities, tourism, promoting Rwanda’s culture and market. He said that Rwanda exports over 4700 products to China “but the level of export is still low compared to the available.” The Minister of Trade and Commerce Monique Nsanzabaganwa, who presided over the conference, said that this expo will help Rwanda interact with the Chinese community, especially the business class and investors and to strengthen ties between the two countries. “China is a country we want to have a strong bond with in terms of investment,” Nsanzabaganwa said. Currently, the minister said Rwanda has an RDB office in China to help promote investment and strengthen business links between the two countries. Ends

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Foreign investments hit Rwf 600bn