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Submitted by ATGA
member sowafrica@yahoo.com Rwanda: Dubai to
invest $230milion in tourism sector East African
Business Week (Uganda), by Daniel
Karibwije Kigali (Rwanda) -
Dubai World, major holding company owned by the
United Arab Emirates is to invest US$230million in
eight tourism facilities in Rwanda. A memorandum of
understanding (MoU) between the Government of
Rwanda and Dubai World on September 26 sealed the
deal that will put the country at a higher pedestal
in the East African region. The minister of
state in charge of industry and investment
promotion in the ministry of commerce, industry,
investment promotion, tourism and co-operatives Mr.
Vincent Karega signed on behalf of Rwanda while the
vice president and prime minister of UAE and ruler
of Dubai Mr. Mohammed Bin Rashid Al Maktoum signed
for Dubai World. During an interview with East
African Business Week at her offices in Kigali on
October 2, the deputy director general in charge of
investment promotion at the Rwanda Investment and
Export Promotion Agency (RIEPA) Ms. Clare Akamanzi
said this initiative from a single source has
superseded their 2007 expectations. "This is very
exciting and a major development for the country.
Each of the projects on their own is big. This has
enabled us to surpass our 2007 target. Our target
for investments this year was
$229million." The Dubai World has
pledged to increase its investment portfolio.
In a press statement sent to Business Week, the
chair of Dubai World Mr. Ahmed Bin Sulayem said,
"This is an important strategic deal for Dubai
World. Rwanda is recognised as the most improved
sub Saharan nation. It has come along
way in sustainable development, and has a safe
environment which still has tremendous potential
for growth". He added, "The
development offers both partners significant
opportunity. Construction on the developments will
commence in late 2007 and we will open an office in
Kigali to manage the existing trading operations,
paving the way for increased tourist arrivals who
seek quality service and high end experience." On
his part, Karega revealed that the country is on an
unstoppable growth curve. "Our vision for Rwanda's
socio-economic transformation is to position our
country as a hub for excellence and quality
service. Tourism is a pillar for rapid economic
growth within that context. Our policy choice for
tourism is to become a high end destination
capitalising on unique natural beauty, security,
property rights and zero tolerance for
corruption. The MoU states that
Dubai World will fully take over the 60-room
Akagera game lodge and turn it into a four- star
facility. In addition, a joint venture with
Government is to be set up to operate the 1,080
Akagera National Park in conjunction with the
Rwanda Office for Tourism and National Parks
(ORTPN). The partnership will also see the
re-development of the Gorilla Nest Lodge in the
breath taking Volcanoes National\ Park. The giant UAE
investment group will set up a creative five-star
tented camp in Kinigi, northwestern Rwanda. The
Dubai World will also fully take over the
$7.2million (Rwf3.99) Nyungwe Eco-lodge that is
being constructed by ORTPN. The Arab group is
to also build a new upscale 150-room hotel at the
up market Kigali Golf Course in Nyarutarama. It
will also re-develop the 18 hole golf course and
the golf and country club as well as building town
houses and villas.
Peace & Love
Each one Teach one!!! |
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