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Rwanda calls on UAE businessmen to invest in 10 sectors

2019-08-29T22:09:01.018Z

The Rwandan Development Board has called on UAE businessmen and investors to invest in Rwanda, identifying 10 key economic sectors that can be invested, most notably the real estate, tourism, industrial and agricultural sectors. This came during the work of the UAE Trade Forum - Rwandan p



The Rwandan Development Board has called on UAE businessmen and investors to invest in Rwanda, identifying 10 key economic sectors that can be invested, most notably the real estate, tourism, industrial and agricultural sectors. This came during the work of the UAE-Rwanda Trade Forum held in Kigali yesterday, organized by the Dubai Export Corporation, and opened by the UAE Ambassador to Rwanda, Hazza Al-Qahtani.

For his part, Mohammed Al Kamali, Deputy Executive Director of Dubai Exports, said that Dubai is of vital importance to the international trade map, as a key gateway on land, sea and air shipping lines to the countries of the region and the rest of the world, pointing out that Rwanda is full of promising opportunities for companies Emirati wishing to expand within the African continent.

starting point

The UAE Ambassador to Rwanda, Hazza Al-Qahtani, said that the trade mission led by Dubai Exports Corporation, one of Dubai's economic institutions, to Rwanda includes 20 private sector companies and companies, pointing out that the mission that concludes today is not just A platform to raise awareness of the capabilities of the UAE economy, but a starting point for UAE companies seeking to enter the African markets, especially the Rwandan market to show the capabilities of the UAE private sector, and show its capabilities and products that it can provide to international markets.

Al-Qahtani said during the work of the UAE-Rwanda Trade Forum organized by Dubai Exports Corporation, in the Rwandan capital, Kigali, that the Rwandan economy is strong and growing at a rapid pace, where the growth rate reached 8.6% last year, after it was 6% in 2017. The growth rate is expected to reach 7.8% this year.

He explained that Rwanda's growth rate was high, supported by the strong performance of the services and industry sectors.

Economic reforms

Al-Qahtani said Rwanda's domestic economy has been boosted by rising consumer spending and foreign investment, pointing to Rwanda's success in controlling inflation and maintaining a stable level of local currency exchange rates against foreign currencies.

He pointed out that Rwanda plans to become one of the upper-middle income countries in 2035, and among the countries of the world with high income in 2050.

In order to achieve this, Rwanda has accomplished a number of economic reforms, the most important of which was its 29th place in the World Bank's Ease of Doing Business Index last year, up from 41th place in 2017.

An important market

Al-Qahtani stressed that the African market is very important for the UAE and for businessmen, investors and companies operating in the country, especially as it is growing significantly, pointing out that the UAE-based companies are achieving significant activity in the field of export and re-export to Rwanda.

He said that the time is ripe for enhancing bilateral trade between the UAE and Rwanda.

Strategic alliances

In his speech, Mohammed Al Kamali, Deputy Executive Director of Dubai Export Development Corporation, invited UAE and Rwandan companies to take advantage of the direct meeting opportunities to discuss opportunities, partnerships and prospects of trade cooperation in various sectors.

Al Kamali stressed that the trade mission to Rwanda aims to develop strategic alliances between private companies to support re-exports between Dubai and Kigali, and to define the integrated components that Dubai enjoys as a global trade center and export and re-export platform.

He pointed out that Dubai has a vital importance on the map of international trade as a key gateway on the lines of land, sea and air to the countries of the region and the rest of the world, where the emirate has a modern infrastructure and service and advanced logistics services, with integrated link with various countries.

Promising opportunities

Al Kamali said that the UAE companies provide competitive products and services of high quality, pointing out that the mission includes companies specialized in a variety of sectors, covering a variety of fields ranging from the industrial sector, including plastic products, generators, power equipment, perfumes and water purification and treatment equipment, In addition to the manufacture of food and beverages and laboratory equipment and personal care products and lighting equipment and electrical equipment and associated fire fighting.

He pointed out that Rwanda is full of promising opportunities for UAE companies in light of the comprehensive renaissance witnessed in the country in light of the continuous march of economic development and social and urban development, and has developed a legislative and legal system developed friendly to business and investment.

Al Kamali said Rwanda is a vital platform for UAE companies wishing to expand within the African continent, which has promising growth prospects for various products and services.

Basic sectors

For her part, Diane Sihoba, Director of the Export Department of the Rwandan Development Council, said during a panel discussion at the forum that Rwanda succeeded in raising its ranking in the Doing Business report issued by the World Bank by 11 degrees to rank 29 in the report version of 2018, to be the country The only lowest income group ranked among the first 30 countries in the report.

Sihuba called on UAE businessmen and investors to invest in Rwanda, explaining during a presentation on investment in Rwanda, that there are 10 key sectors that UAE investors can benefit, including: infrastructure, real estate and construction, tourism, transport and shipping, industry, agriculture, Mining, Services, ICT, and Construction.

Passenger traffic and freight

The number of passengers traveling on Rwandan Airlines from Dubai to Kigali grew by 17 per cent between January and July this year, compared to the same period last year, according to Mohammed Al Rayes, executive vice president of Al Rais Travel & Shipping Agencies. From Kigali to Dubai, via Rwandan Airlines, growth of 42% over the same period.

During the first session of the UAE-Rwanda Forum, Al Rayes said that the total traffic between Dubai and Kigali in both directions reached 610 tons during the first half of this year, reflecting the growing flow of tourists, business and trade. He stressed that Rwanda enjoys promising prospects on the economic and commercial levels, in addition to tourism, pointing out that there are many opportunities for exporters from the UAE.

Source: emara

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