The Rwanda Development Board signed an MoU with Mr. Zhang Huarong, the Chairman of the Huajian Group at the Kigali Convention Centre to enhance the country’s export potential on finished products.
Mr. Zhang Huarong speaking during the press conference revealed his ten-year plan to set up a factory in Rwanda and invest approximately one billion dollars while at the same time create over 20,000 jobs for the youth in the country.
The investor was also very enthusiastic about Rwanda’s potential in ICT as a sustainable means to attain growth and position itself as the leading technological hub in the region. Under his investment plan therefore Mr. Zhang Huarong would like to enhance technological skill transfer by offering training and scholarships to over 200 Rwandan students in China starting this year.
“Rwanda is next best place to do business in Africa, the political climate is steady, the governance is efficient and the population is relatively educated.” Mr. Huarong.
The renowned and affluent businessman has achieved great success doing business in China and Ethiopia, and he is interested in expanding his investments into Rwanda to produce shoes, clothes, bags, cellphones and computers. At the initial stage he plans to import raw materials that will be then manufactured and produced locally however in the long-term he shall acquire approximately 60% of his raw materials from Rwanda.
The Chief Executive Officer at the Rwanda Development Board and Cabinet Member, Hon. Clare Akamanzi speaking to the press during the signing expressed her enthusiasm over the agreement and added that, “We are confident that Mr. Zhang Huarong’s commitment to invest in Rwanda will diversify & improve exports of finished products from Rwanda.”
According to the site of RDB,The MoU signed by the Rwanda Development Board on behalf of the Government of Rwanda with Mr. Zhang Huarong is a result of the country’s flagship trade policy to diversity exports of local products and increase returns for the sustainable development of the country.