Investment volumes in Rwanda soared by 50% in 2023, reaching over $2.47 billion, up from $1.6 billion in 2022.
According to the Rwandan Development Agency (NISR) in its 2023 annual report, Rwanda attracted global investments totaling $2.47 billion last year. The sectors that attracted the most investments were industry, agricultural processing, fertilizers, and construction. Foreign investment accounted for about $1.5 billion of this total.
These investments are expected to contribute to the creation of more than 40,000 jobs, the Rwandan Development Agency specified. Additionally, the report noted an increase in exports of products and services to $3.5 billion in 2023, up from $2.9 billion the previous year.
According to the country's central bank, the Rwandan economy grew by 8.2% in 2023, surpassing the initially forecasted rate of 6.2%. Future projections are also positive, thanks to economic reforms undertaken by the Rwandan government. These reforms have facilitated business operations, improved transparency, and strengthened infrastructure, making the country more attractive for international investments. Furthermore, the government has implemented tax incentives to attract more investments in high-tech sectors and renewable energy.
Overall, the Rwandan Development Agency's report clearly illustrates the dynamism and potential of the Rwandan economy, marking a period of sustained growth and economic diversification. These developments will undoubtedly play a crucial role in achieving the country's long-term goals for economic and social development.
