Premier Ngirente showcases Rwanda’s investment landscape in Morocco

By Esther Muhozi
On 10 November 2023 at 10:05

Prime Minister, Dr. Edouard Ngirente has underlined Rwanda’s stable investment climate, citing the nation’s impressive economic growth, averaging approximately 8 percent annually for the past two decades. He also emphasized Rwanda’s commitment to creating an investor-friendly environment through various policies, institutions, and regulatory frameworks.

He made the disclosure on November 9, 2023, at the Africa Investment Forum in Marrakech, Morocco as he chaired a session focused on investment opportunities in Rwanda.

This gathering brought together key stakeholders, including prominent investors and business leaders keen on exploring potential ventures in the country.

In his remarks, Dr. Ngirente illuminated the fiscal and non-fiscal incentives provided by the Rwandan government to attract investors. These include a 7-year Corporate Income Tax (CIT) holiday for investments surpassing $50 million, a 0% preferential CIT rate for international companies with regional headquarters in Rwanda, and an efficient online business and investment registration process completed within six hours.

The Prime Minister then unveiled significant investment opportunities across key sectors.

Notably, in agriculture, he discussed the ongoing Gabiro Agribusiness Hub Project, highlighting its role in transforming Rwanda’s agriculture

Gabiro Agribusiness Hub Ltd is a joint venture Company established between the Government of Rwanda through its Ministry of Agriculture and Animal Resources, boosting high-value crop exports, and ensuring food security. Currently in its second phase, this project aims to develop a vast area of 16,000 hectares in the Gabiro region of the Eastern Province.

Dr. Ngirente also mentioned the establishment of a medical services center in Masaka, Kicukiro District, designed to facilitate the transfer of modern technology and develop research and development programs for vaccines and medicines. The recently launched IRCAD Africa branch, affiliated with IRCAD France, focuses on human-assisted surgery.

The Prime Minister extended an invitation to interested investors to contribute to the development of decentralized healthcare. He also highlighted the mining sector as a viable investment opportunity. Currently employing over 60 thousand Rwandans, the Mining of Precious Stones sector earned the country over 290 billion Frw in the third quarter of 2023.

Dr. Ngirente encouraged investment in mining activities, from exploration and processing to value addition through manufacturing and marketing.

Minerals such as Coltan, Wolfram, Gold, and others are extracted in Rwanda, with the country ranking high globally in Coltan, Cassiterite, and Wolfram production.

Premier Ngirente reiterated Rwanda’s commitment to facilitating investors and prioritizing the private sector for economic development. He emphasized opportunities in the health sector, where Rwanda is establishing an advanced national medical hub to support technology transfer, research, and pharmaceutical and vaccine manufacturing.

In the mining sector, he underscored the potential for investment in mineral exploration, development/extraction, processing, and trading, leveraging Rwanda’s diverse mineral resources.

Dr. Ngirente highlighted Rwanda’s dedication to fostering strong partnerships between the public and private sectors, considering them crucial for successful transformation. He also urged investors and business leaders to view Rwanda as a prime destination, given its untapped potential and supportive investment climate.

Premier Ngirente has showcased Rwanda’s investment landscape in Morocco.