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 Resources > Diaspora news
Investment echoes in Rwanda diaspora convention
September 24, 2006
By Edwin Musoni
The Times, Kigali
 

Investment opportunities in Rwanda has taken the lead in the ongoing Third North American Rwanda Convention in Hyatt Morristown Hotel in New Jersey, US, where President Paul Kagame was the chief guest. In a two-hour meeting of the official opening of the convention that attracted about 1,000 Rwandans from and the Diaspora and guests, all speakers pointed on the investment opportunities in Rwanda.

Several speakers, including friends of Rwanda and Cabinet ministers, highlighted the advantages of investing in Rwanda, citing security and ease of setting up business in the country.

In his keynote address, President Kagame, who said that his main purpose of travelling to the US was to attend the convention, called upon Rwandan intellectuals in the Diaspora to invest in their country, saying that a state like Atlanta has over 65 Rwandans who are PhD holders.

"In the entire Africa, we face a problem of hiring expatriates, yet we produce about 30,000 African professionals every year. We need your skills to supplement the good work going on back home."

The President also talked about Rwanda's Vision 2020, saying the nation is encouraging capacity building. "We are emphasizing capacity building. In the field of agriculture we are and must ensure that agriculture is productive and market oriented," he said.

"Our economy is growing from strength to strength," he added. "We have begun to attract a culture that entitles all civil servants to economic growth."

On the requirements for future prosperity, Kagame said that the private sector must be strengthened and that regional integration was being emphasized.

"Rwanda's geographical location is a basis to build on. We are a landlocked country and we should take this as an advantage for being a link to the regional integration," he said.

Kagame also stressed on human capacity, saying that it was one of the main hindrances that the country was facing. He said that Rwanda is still in a developing stage and that much is still required to develop her human capacity.

The President criticized self-exiled politicians, saying Rwanda has built a political system that is even backed by the Constitution. He also said that there was no reason that would stop someone from forming a political party and that the government fully believes in power sharing.

Kagame also called for policy implementation, saying that much research had been done and that it was time for the implementation.

"We have had much of this board work of the research reports, but I call upon my fellow Rwandans not to entertain this but emphasize on implementation policy. I believe it has never been a problem of funds. I want a concrete report showing progressive outcomes," said Kagame.

Also speaking at the convention, the Director on Rwanda Investment and Export Promotion Agency (Riepa), Williams Nkurunziza, said that one of the encouraging reasons to invest in Rwanda is working with nationals who are devoted to poverty eradication in their country. He said Rwandans share a passion for collective prosperity of their county.

The Minister for Commence and Investment, Protais Mitali, presented what was called "The Rwanda situation and vision", where he put Rwanda's GDP target by 2020 as US$900 per capita from the current US$250. He said Rwanda intends to develop her manufacturing industries by 12 percent by 2020, while the investment industry would develop by 25 to 30 percent.

Other speakers included the former US Ambassador to the UN and Chairman of Good Works International, Ambassador Andrew Young, who praised the investment security in Rwanda.

The Chairman of Operation Hope, John Bryant, offered to assist over 50,000 children in Rwanda.

President Kagame's entourage had over 50 delegates from Rwanda, including Cabinet ministers and business people, amomg them the head of Rwanda Investment Group, Tribert Rujugiro.

 
 
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