Rwanda attracts $300m investments from newly registered Chinese firms in 2020

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TWENTY-FOUR more companies from China were registered in Rwanda last year, bringing in investments totalling $300 million, according to the government’s investment arm.

Most Chinese investments in the East African nation are in the sectors of construction and real estate, mining, ICT, manufacturing and hospitality, according to a statement provided to Xinhua on Thursday by the Rwanda Development Board (RDB).

RDB said it is currently encouraging more diversified investments in sectors beyond real estate and manufacturing, the two main sectors Chinese companies invest, and to further partner with local entrepreneurs who have innovative, promising projects.

Although many businesses in Rwanda have been affected by Covid-19 pandemic and related restrictive measures since last year, some sectors are still profitable while not operating at full capacity, according to Theoneste Ntagengerwa, spokesperson of the Rwandan Private Sector Federation.

He suggested them as potential business for investing, including manufacturing anti-pandemic materials and medical supplies, agriculture and agricultural product processing, which generally continued operating during the pandemic.

He also said investors shall consider investing sectors essential for economoy.

 

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