Rwandan Private Sector Explores Investment Opportunities in UAE

22 February 2023
The New Times (Kigali)
By Moise M. Bahati

A delegation from Rwanda's private sector, Rwanda Development Board (RDB) and the Rwandan embassy in the United Arab Emirates (UAE) are holding investment roadshows in UAE aimed at exploring investment and trade opportunities between the two countries.

Taking place from February 21-25, the events are being organised in the Emirates of Abu Dhabi, Sharjah, Ras Al Khaimah, and Dubai and will conclude with a Visit Rwanda Golf Tournament.

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The roadshows provide a match-making platform for fostering partnerships between Rwandan and UAE business executives in sectors such as agro-processing, fintech & financial services, manufacturing, real estate, ICT, logistics, trade, hospitality, healthcare, and education.

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"Rwanda and UAE enjoy excellent relations and bilateral trade and investment flows have been on an upward trajectory for the last four years," said Rwanda's ambassador to the UAE, Emmanuel Hategeka.

"We expect the UAE-Rwanda Business Forum and investment roadshows to bring the two business communities closer and deepen collaborations. Indeed, this is the right time to reactivate economic exchanges in order to sustain the post-pandemic economic recovery."

The UAE is one of Rwanda's leading trade partners. Over the last 10 years, trade has grown tenfold to more than $1 billion in 2022. Some 11 companies from the Arab country registered in Rwanda have investment commitments valued at over $134 million.

"We're organising these events in order to strengthen our business ties with the UAE," the Acting Chief Investment Officer at the RDB, Philip Lucky said.

"It is our expectation that Rwanda's private sector can tap into the advanced economic sectors of the UAE and attract the required expertise and investments for developing Rwanda's economy."

For Jeanne-Françoise Mubiligi, the acting Chairperson of the Private Sector Federation, the roadshows in the UAE are a great opportunity for Rwandan investors to engage with their counterparts for potential trade and investment opportunities.

"Rwandans are already trading with the UAE and this is another great occasion to further our partnership," Mubiligi said.

Memorandum of Understanding (MoU) are expected to be signed during the events, including one between the Rwandan Private Sector and the Federation of UAE Chambers of Commerce and Industry establishing the UAE-Rwanda Joint Business Council.

Read the original article on New Times.

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