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Rwanda Targets Industrial Investors With Special Economic Zones

Rwanda Targets Industrial Investors With Special Economic Zones

Rwanda, one of Africa’s fastest growing economies with the best “Doing Business” performance index, is building special economic zones that is says will woo foreign investors to set up their manufacturing business in the country.

The Rwanda Special Economic Zones (SEZs) is a programme within the Rwanda Development Board that is designed to address domestic private sector constraints such as availability of industrial and commercial land, availability and the cost of energy, limited transport linkages, and market access among others.

“Principally it was (created) to solve some of the constraints faced by investors. Especially on infrastructure,” Claude Ngarambe, a marketing specialist at the Rwanda Development Board, told NBS Television Uganda.

The small East African nation has so far constructed Kigali Special Economic Zone (KSEZ) located in Gasabo District within the country’s capital Kigali with phase one and two occupying 98 and 178 hectares of land respectively.

The government is now planning for phase three, which is expected to occupy 134 hectares.

According to a Xinhua report, the tiny East African nation that is ranked 46 out of the 189 economies ranked in the World Bank’s Doing Business Index, is planning to double the amount of foreign investment it receives annually to over $1 billion.

Official data show that the country received about $500 million in FDI in 2014.

In a Grow Africa 2014 report, the Rwandan government was cited for its responsive and clarity in making basic requirement of doing business in the country easily available at a one stop shop, compared to other African countries where investors have to deal with multiple government agencies and take years to resolve simple procedures.

“So far we Kigali Special Economic Zone, but we will having other zones up country. In every Zone there will be a one-stop-shop to facilitate the work of investors,” Ngarambe said.