East African nation Rwanda is set to investment and tourism sector in China for an entire week. Both the Embassy of Rwanda to China and the Rwanda embassy in China confirmed of the tour. Rwanda Development Board (RDB) will be working with the latter party throughout the touring period in the East Asian nation.
The event dubbed “Rwanda week in China” kicked off on September 1 and will end on September 8. During this period, there will be other mini-events running. There will be road shows and trips to industrial parks as well as manufacturing facilities. As Rwanda seeks to bolster its productivity in the manufacturing sector, this exposure and experience will come in handy.
The Chinese have invested in hi-tech industrial parks that have not only created plenty of employment opportunities but have boosted the productivity performance of the economy. They have birthed significant economic growth in the nation and brought socioeconomic impact on the status of many individuals. Industrial zones have brought urban development to various cities.
Development of such facilities has seen African countries imbibe the culture which has allured foreign investors from around the globe. Rwanda has experienced a quantum leap in its economic sectors catapulted by such facilities. The Government has been able to rake a significant amount of revenue from the business parks.
Last year, RDB singed a deal with a Chinese investor Huajian Group to install a manufacturing plant in the Sub-Saharan nation. The attractiveness of doing business in Rwanda attracted the company which had completed its investment plans in Ethiopia. It was part of its strategy to expand its operations in East Africa. This year the Chinese business announced its hope to invest $200 million in Africa.
Like President John Pombe Magufuli of Tanzania who insists on the need for Foreign Direct Investments in the economy, President Paul Kagame and the Government has created a conducive business environment to lure potential investors to grow the economy. Chinese investments in Tanzania hit $4 billion in 2017, and China could replicate success in Rwanda.
Rwanda is an attractive tourist destination in Africa despite the tight competition it faces from other East African states especially Tanzania. Landlocked country Rwanda raked in $438 million last year, courtesy of business travellers who visited the nation quite often for international forums.
High-end gorilla tourism helped the sector harvest more revenues with the tickets accounting for $18 million, a rise of 14.1 per cent. Gorilla tourism has been a cutting edge in the sector that has raised the popularity of the industry in the global markets. RDB has achieved success in the industry by participating in international trade shows and marketing.
ALSO READ: East Africa tops investment hubs in Africa
The strong bilateral cooperation betwixt China and Rwanda has paid off bountifully and should spur their working relations in the future together.