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Rwanda woos FDI from Qatar to quadruple GDP
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Rwanda woos FDI from Qatar to quadruple GDP
" DOHA: Rwanda is contemplating setting up a trade mission in Doha to forge bilateral ties with Qatar, from where it seeks foreign direct investments as the East African country aims to quadruple its GDP by 2020."

" The land-locked country, which is also the nerve centre for the bigger sub-Saharan African region, is hoping to attract investments in energy, airports and other vital infrastructure sectors, besides also seeking direct flights from Qatar to Kigali (the capital) and the presence of Qatari commercial banks."

" Rwanda, known as the Land of a Thousand Hills, does not have bilateral transactions with Qatar but a few items are traded at the individual level. It will soon join the East African Community that has over 100mn consumers and also enjoys preferential access, in some cases duty-free access, to the European and American markets."

" ?We need to have presence to sell our products in this market. We also want to open our doors to investments in whichever sector Qatar wants to invest in,? Rwanda?s Minister of State for Industry and Investment Promotion Vincent Karega told Gulf Times after his meeting with officials of the Qatar Chamber of Commerce and Industry (QCCI)."

" QCCI was represented by its treasurer Mohamed bin Ahmed Towar al-Kuwari and director general Dr Khalid Kleefekh al-Hajri, while the visiting delegation included Rwandan Investment and Export Promotion Agency director general Nkurunziza B N Williams, Tea Authority managing director Alex Kanyankole and Coffee Board director Ephrem Niyonsaba."

" Rwanda wants to ?build ties (with Qatar) in areas where it has the competitive advantage and also wants to source from Qatar,? he said, while seeking investment in the country?s energy, agriculture, information and communication technology, tourism, manufacturing, infrastructure and financial sectors."

" Asked whether Rwanda, which reported average economic growth of 5.4% during 2000-04 with strong contributions coming from farming and construction sectors, was looking to any trade mission to facilitate two-way trade, he said initial feasibility studies are to be conducted in setting up a mission oriented towards commerce and trade."

" ?We expect it (the trade mission) by next year,? he said, adding ?we believe in building trust and the rest will follow.?"

" Asked whether Rwanda has placed any restrictions on foreign direct investments, especially in the agriculture sector, he said there were none
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