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UK investors explore Rwanda's untapped business opportunities

Xinhua, March 20, 2016 Adjust font size:

UK investors have shown interest in investing in some of Rwanda's untapped business opportunities, according to Subhash V Thakrar, deputy president 0f London Chamber of Commerce and Industry.

The business delegation comprising about 20 persons from the UK Trade and Investment (UKTI) represent companies dealing in construction and real estate, education, solar energy, agriculture, scientific instruments and mining, and is in the country to explore potential investment opportunities.

"Rwanda is a stable country and it is making impressive economic progress. Investors from UK want to be part of this country's transformation," Thakrar told reporters on Saturday.

The delegation will have networking sessions with some government officials to discuss the business environment, trade promotion, presentation on various sectors, one-on-one business meetings, site visits to Kigali Industrial Park and other venues.

Francis Gatare, chief executive officer at Rwanda Development Board has encouraged UK investors to explore Rwanda and make the most of a vibrant economy that promised good returns.

"Our government is committed to providing a conducive environment for investments to grow, creating employment opportunities and generating income for the people," he said.

Gatare assured investors that Rwanda was conducive for investments and had continued to be rated favourably by various international rating agencies based on the strong reforms that the government had implemented.

The small central African land locked country has constructed Kigali Special Economic Zone (KSEZ) located in Gasabo District within the country's capital Kigali that will be a hub of private sector investment.

The country has also gone ahead to enhance investments by introducing a new investment law that clarifies potential investment opportunities in the country as well as the key areas the government is marketing to investors.

The investment law, launched in Kigali in June last year to replace one enacted in 2005 that was limited in scope, seeks to bring 1.12 billion U.S. dollars worth of foreign direct investments by the end of the year.

The 2015 World Bank Doing Business Report, ranked Rwanda 46th out of 189 countries globally that are promoting conducive environment for business.

Rwanda has also opened strategic business offices in different countries such as Turkey, Canada, UK, US, South Africa, Singapore and China, with the aim of promoting investments from those countries. Endit