In a follow-up letter from H.E. Soline Nyirahabimana, Ambassador and Permanent Representative of Rwanda to the United Nations in Geneva, the Government of Rwanda has proposed a Terms of Reference for the FDI study.
Noting that the Government of Rwanda has adopted its Economic Development and Poverty Reduction Strategy (EDPRS) for the 2008-2012 period to guide Rwanda's medium-term development ambitions, and that Rwanda has been climbing up in the World Bank's Doing Business Index, the Ambassador also pointed to a gap between registered investment and actual investment. In view of the fact that investment is important in terms of jobs, technology and tax revenues, the Government of Rwanda, in line with its Private Sector Development Cluster under the EDPRS, is of the view that an in-depth FDI study is a matter of priority and urgency.
The study will focus on companies that have indicated an interest in Rwanda but have not invested, or that have invested but later withdrew or scaled down their investments. The study will aim to come up with recommendations for Rwanda to attract and retain more FDI. UNCTAD will be conducting the study in close collaboration with Rwanda's Ministry of Trade and Industry.