Rwanda call for Punjab industrialists

The Ambassador of the Republic of Rwanda, Lt Gen Kayumba Nyamwasa, has asked industrialists from Punjab to invest in Rwanda and also set up small-scale agro-based units such as packaging units, oil expeller units, and fruit packing units there, as these sectors offered big profits.

The Ambassador, who was in the city last week, visited the Co-operative Bank, the Verka Milk Plant, industrial units and Punjab Agricultural University to seek co-operation in various fields.

He invited people from Punjab and other parts of the country to attend the international investment conference to be held at Rwanda on May 23 and 24, and an International Trade Fair to be held in August this year.

Speaking to Business Standard, the Ambassador said: "I want to tell the industrialists here that if India's GDP is growing by 8 per cent per annum, Rwanda's GDP is also growing at 7 per cent per annum. The industrial growth rate of Rwanda is 3 per cent; besides, it is also the safest country in Africa with no crime or corruption. If anyone wants to open a unit in Rwanda, all paper work will take only a week's time.''

Further if one opens a unit in Rwanda, he has to pay no taxes for exporting or importing to 20 neighbouring countries such as Ethopia, Uganda, Tanzania, Egypt, Zimbabwe, and Zambia because Rwanda has signed a free trade agreement with them, according to him. "So, Rwanda is a readily available market for the industrialists," he said.

The Ambassador said Rwanda was an agriculture-based country in the East African region. He also visited Excellent Forge, a hand tool unit in Focal Point.