World Bulletin/News Desk
“Ten years ago, Rwandan villagers would ask the government for food and basic necessities; today they demand better roads, improved electricity access and fast broadband,” Rwandan President Paul Kagame wrote, describing his country's economic development in an article published in The Wall Street Journal on Sunday.
As it moves quickly to overcome the destructive impacts of the 1994 civil war on the economy, Rwanda is looking to attract long-term foreign investments. Considering their boosted presence in the entire African continent, Turkish firms are on the top of the list among businesses that can park their cash in Rwandan markets for long-running investments.
The country stands out with its gold, tin ore, methane and hydro-electricity power potential as well as vast arable lands suitable for farming.
And Turks are welcome to invest in the African country, Rwandan Trade Minister François Kanimba told a group of Turkish businessmen Monday in İstanbul. The minister was addressing a Turkey-Rwanda Trade and Investment Forum, organized by the Turkish Confederation of Businessmen and Industrialists (TUSKON).
In his article, Kagame also said his government was committed to “build[ing] a modern economy, with a vibrant private sector that is connected to international markets.” Kagame said efforts in this regard could see Rwanda become a nation less dependent on foreign aid.
The east-central African nation's debut Eurobond issue last month, which attracted demand, will enhance the country's external debt profile, support GDP growth and help attract investment, Fitch Ratings said in April.
Kanimba underlined in İstanbul that his government has offered incentives for foreign investments that are as favorable as possible and that Turkish and Rwandan businessmen should come together to exchange ideas more often. TUSKON Deputy Chairman Ahmet Ciğer cited on Monday food and mining as the most promising investment fields for Turkish entrepreneurs in Rwanda.Last Mod: 21 Mayıs 2013, 09:38