An Indian business delegations lead by Minister of State for External Affairs, Preneet Kaur, has been exploring various investment opportunities in Rwanda, a central African republic, with a special focus on establishing Special Economic Zone (SEZ).
A 20-member strong business delegation representing various leading companies in India, have met Rwanda Development Board (RDB) officials on Wednesday and discussed various avenues to set shop there.
Rwanda government wants to create a fully functioning Special Economic Zone by 2015, where traders within that location can enjoy economic policies and laws that are more free-market-oriented than the typical national laws that govern trade. SEZ is based in Gasabo District and several national and international corporations have already set up shop in the area.
With the first phase of the Nyandungu-based SEZ set to be operational this year, as announced early this year by the Minister of Trade and Industry, Francois Kanimba, foreign investors have shown significant interest with 100 hectares of land already reportedly booked.
"A non-refundable booking fee of US$10,000 is required; a square metre of the land goes for Rwf 20,000, and an investor is required to pay at least 30 percent of the total amount before they can begin construction," Zephania Niyonkuru, a Strategy Expert at RDB explained, in response to queries from the Indian entrepreneurs.
The leader of the mission, Jagtar Singh, who is also the Senior Vice President of Airtel Business Solutions-Africa, said that Rwanda's rate of infrastructural growth and efficient registration methods provide sufficient evidence to prospective investors.
"I have travelled throughout Africa, but the opportunities in Rwanda are immense and more attractive; we have come as a group today but each represents a different company. With what we have seen so far, I am more than certain that we shall approach RDB as individuals concerning real investment," Singh disclosed in an interview with The New Times.
Airtel, the world's fifth largest telecoms company, became Rwanda's third mobile operator after MTN Rwanda and TIGO when it was awarded an operating license in September last year to operate mobile telephone services.
Head of Investment Promotion at RDB, Vivian Kayitesi, told the Indian delegation that infrastructural projects were being fast-tracked to reduce economic challenges the country faces due to its land-locked status.
"Foreign direct investment in Rwanda is made uncomplicated by many factors, including the zero tolerance to corruption, political stability and the easiness to register business companies," Kayitesi noted.
"We are putting in place infrastructure to reduce the heftiness associated with the cost of doing business; together with enormous efforts from both the public and private sector, the sustainability of Rwanda's economic growth is ensured."
Some of the Indian companies that were represented include Jain irrigation Systems, which is already operating irrigation systems in Nyagatare District, Eastern Province, Angelique International, Fedders Lloyd Corporation and Lucky Exports.
The Indian business delegation is currently on an official trip to Rwanda and Burundi from 15 – 18 February 2012. Rwanda and Burundi are of strategic interest to Indian business as the India-Africa business engagement expands to all important countries in Eastern Africa, according to a CII release.
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| Preneet Kaur |
Rwanda government wants to create a fully functioning Special Economic Zone by 2015, where traders within that location can enjoy economic policies and laws that are more free-market-oriented than the typical national laws that govern trade. SEZ is based in Gasabo District and several national and international corporations have already set up shop in the area.
With the first phase of the Nyandungu-based SEZ set to be operational this year, as announced early this year by the Minister of Trade and Industry, Francois Kanimba, foreign investors have shown significant interest with 100 hectares of land already reportedly booked.
"A non-refundable booking fee of US$10,000 is required; a square metre of the land goes for Rwf 20,000, and an investor is required to pay at least 30 percent of the total amount before they can begin construction," Zephania Niyonkuru, a Strategy Expert at RDB explained, in response to queries from the Indian entrepreneurs.
The leader of the mission, Jagtar Singh, who is also the Senior Vice President of Airtel Business Solutions-Africa, said that Rwanda's rate of infrastructural growth and efficient registration methods provide sufficient evidence to prospective investors.
"I have travelled throughout Africa, but the opportunities in Rwanda are immense and more attractive; we have come as a group today but each represents a different company. With what we have seen so far, I am more than certain that we shall approach RDB as individuals concerning real investment," Singh disclosed in an interview with The New Times.
Airtel, the world's fifth largest telecoms company, became Rwanda's third mobile operator after MTN Rwanda and TIGO when it was awarded an operating license in September last year to operate mobile telephone services.
Head of Investment Promotion at RDB, Vivian Kayitesi, told the Indian delegation that infrastructural projects were being fast-tracked to reduce economic challenges the country faces due to its land-locked status.
"Foreign direct investment in Rwanda is made uncomplicated by many factors, including the zero tolerance to corruption, political stability and the easiness to register business companies," Kayitesi noted.
"We are putting in place infrastructure to reduce the heftiness associated with the cost of doing business; together with enormous efforts from both the public and private sector, the sustainability of Rwanda's economic growth is ensured."
Some of the Indian companies that were represented include Jain irrigation Systems, which is already operating irrigation systems in Nyagatare District, Eastern Province, Angelique International, Fedders Lloyd Corporation and Lucky Exports.
The Indian business delegation is currently on an official trip to Rwanda and Burundi from 15 – 18 February 2012. Rwanda and Burundi are of strategic interest to Indian business as the India-Africa business engagement expands to all important countries in Eastern Africa, according to a CII release.
Airtel, the world's fifth largest telecoms company, became Rwanda's third mobile operator after MTN Rwanda and TIGO when it was awarded an operating license in September last year to operate mobile telephone services. wholesale tee shirts , inexpensive t shirts bulk , wholesale yellow t shirts , quality wholesale sweatshirts , cheap neon t shirts bulk , cheap baseball tees in bulk , bulk childrens clothing , cheap designer baby clothes , baby dress , buy baby clothes
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