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Asian Countries Lead Foreign Investment in Rwanda, Development Board Says

17:31, 16 May 2023

CC BY 2.0 / / rwanda

Maxim Grishenkin

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Data on leading investors in the country was prepared as part of the Rwanda Development Board's (RDB) annual report, a government institution whose mandate is to accelerate the country's economic development by enabling private sector growth.

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China and India remained the major foreign investors in Rwanda's economy for 2022, the Rwanda Development Board's (RDB) annual report has shown.

According to the institution, Rwanda attracted investments worth $1.6 billion in 2022. Of this, $182.4 million (11.2%) came from China in 49 projects in the East African country

India ranked second with an investment portfolio of $151 million, or 9.2%, with 36 projects, RDB pointed out.

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Asia, whose total investment in Rwanda was $330.4 million in 84 initiatives, outpaced Europe ($226 million and 31 projects).

Rwanda's third continental investor in 2022 was Africa, with a total investment of $189.3 million (11.6%) and 78 projects in the country.

Kenyan investment dropped from second place in 2021 with $92.6 million (2.5%) invested in Rwanda.

According to the World Bank, Rwanda's economy has shown resilience despite a difficult economic environment in 2022, with real GDP growing by 8.2% in 2022.

Apart from that, Rwanda was one of two countries in Sub-Saharan Africa to meet all the Millennium Development Goals for health: Under-five mortality, maternal mortality, and total fertility all dropped between 2000 and 2020, the World Bank noted.