Fast Growing and Investor-Friendly
Rwanda’s economy may still be small and predominantly agricultural, but in recent years, with political stability, it has posted an impressive 7% GDP growth rate at the same time reducing inflation to 4.4%. Foreign exchange controls have been liberalised and the banking system is sound and thriving.
With its Vision 2020 objective of combating poverty, Rwanda is embarking on a comprehensive program of privatization and liberalization with an aim of attaining rapid and sustainable economic growth. Rwanda was rated the most competitive place to do business in East Africa and 3rd in Africa (WEF-Global Competitiveness Index Report 2013-2014, p.3). The 2014 World Bank Doing Business Report ranked Rwanda as the 2nd in Africa and the 32nd of 189 countries worldwide.
The Rwanda Investment Code offers a number of tax breaks and other incentives to help facilitate investment into the Rwandan economy and businesses in Rwanda.
Recently, substantial private investments have been made in tourism and in the development of new industries such as cut flowers for export and fish farming. The major exports of Rwanda are coffee, tea, tin cassiterite, wolframite and pyrethrum. Coffee makes up more than 50% of the total export value, while the mountain grown tea is considered to be some of the finest in the world.
The full range of Rwanda’s resources has yet to be realized. Commercial fishing in Lake Kivu is in its infancy; there are vast opportunities in the emerging tourism industry. The labour force is dedicated, energetic and eager for training. The government, through the Rwanda Investment and Export Promotion Agency (RIEPA) is ready to work hand-in-hand with investors to realize their goals and drive the economy forward to a better future. Opportunities abound for long-term, well-capitalized investors with ideas, imagination and business skills for an emerging economy.
For more information on strategy read the EDPRS Rwanda’s ministry of finance and Economic Planning.
If you would like specific information on investment opportunities, please look over the opportunities listed here or contact the Australian arm of the Rwanda Development Board on +61 (0) 401 099 115 or by email at email@example.com