Investments expected to double this year - RDB

KIGALI - Rwanda’s investments are expected to double this year as the world economy recovers from the economic downturn, Clare Akamanzi, the Chief Operating Officer of Rwanda Development Board (RDB) said Friday. Akamanzi noted that the country had registered tremendous investments despite the global economic woes. According to statistics from RDB, the country registered investments of Rwf232 billion in 2010 with 6,207 investments registered compared to 5,808 investments in 2009.She added that 12,736 jobs were created last year through the newly established investments. “The world economy has been recovering since its meltdown in 2009, and now it is settling. Hence we expect investments to double in this year,” noted Akamanzi. She attributed the increase to the good business climate existing in the country. “Entrepreneurship in the country is increasing and this is paying off.” According to RDB officials, the increasing investment registration is also attributed to the fact that starting a business and registering property was simplified, making it the fastest in the region and 11th in the World. Rwanda is ranked as the second best reformer in last year’s Doing Business Report by the World Bank. According to Akamanzi, both local and foreign investors are gaining confidence in Rwanda partly due to Government’s wider efforts to promote Rwanda as a business and investment destination, aimed at driving growth of the private sector and generate wealth, are paying off. RDB is now focusing on attracting investors in the finance sector to cash in on the country’s expanding economy, targeting Asian investments, which according to Akamanzi, seem to be very promising. Ends