Rwanda is targeting investment projects worth $550-million and hopes tourism revenues will rise to $216-million in 2011, officials said on Wednesday.
The Rwanda Development Board (RDB) said investments projects had increased by 150% in the first quarter of 2011 to $87-million, mainly boosted by the February registration of the Cadilla pharmaceutical company, worth $65-million.
Rwanda was ranked by the World Bank as the country that introduced the most pro-business reforms in 2009, and it came second to Kazakhstan in 2010. The country is pushing hard to attract investment to become a middle-income nation by 2020.
The RDB also said tourism projects registered in the first quarter increased by 32% from the same period a year earlier. It said tourist arrivals jumped 32% to 201 088 while revenues climed to $56,6-million from $43-million.
While its east African neighbours Tanzania and Kenya are more renowned tourist destinations, Rwanda is trying to attract more visitors to its mountainous national parks which are home to gorillas.
Rwanda earned $200-million from tourism in 2010.
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