Rwanda: More Investors Commit to Boosting Exports

Posted on : Tuesday , 23rd December 2014

Eight more companies have signed agreements with government committing to increase production and scale up exports.The companies are in the mining and manufacturing sectors and include Rwanda Plastic Industries, Rwanda Allied Partners, Minimex, Demikaru Ltd, East African Granite Industries and Development Mining Company Ltd.

Under the agreements, companies committed to expanding the scope and mode of production along the value chain so as to boost exports and forex revenue.

Kanimba was addressing investors in Kigali on Wednesday. The government had entered similar agreements with 38 other companies.

"The objective is to facilitate these companies with the needed infrastructure and link them to markets to boost productivity," he said.

The infrastructure will include construction and rehabilitation of roads linking producers to markets, rural electrification that will help reduce the cost of production, and logistical infrastructure such as storage facilities for horticultural products.A monitoring committee put in place by the Ministry of Trade and Industry will ensure that progress is tracked every month.

"For Rwanda to be able to fetch $400 million from mineral exports, it's paramount for such deals to be struck. Such kind of arrangements is also intended to complement the existing legal and institutional framework," Imena said.

Latest GDP figures by the National Institute of Statistics of Rwanda indicated that the country's Industrial sector grew by 4 per cent and contributed 0.7 percentage points to economic growth during the third quarter of 2014.

The mining industry, in particular, fetched Rwf26 billion reflecting 2 per cent contribution to the overall GPD.

Last week, government signed similar agreements with 19 tea cooperatives and factories to boost tea exports.