Toyota Corp eyes Rwanda market

A delegation of ten officials from Toyota Tsusho Corporation, based in Japan, was in the country to explore investment opportunities. The group, which included officials from the corporation’s Nairobi regional office, on Thursday, met the Minister for East African Community affairs, Valentine Rugwabiza. Known mainly for the manufacturing of Toyota cars, the company is also involved in agri-business and ICT. “People say Rwanda is a land locked country but this is not true. Rwanda is a linked country. Rwanda’s market may be small considering its size, but if you look at the larger EAC and eastern Congo, it is a very big market,” said the head of the delegation, Takashi Hattori, the Managing Director of Toyota Tsusho Corporation. He added: “We requested the government to give us a master plan or some sort of data for us to make a first step. But I believe areas like fertilisers, manufacturing, energy and ICT can work best. There are many projects we can create together with the Government of Rwanda and in the region,” he said. Rugwabiza said Rwanda has eased doing business and keeps this trend to ensure that business runs smoothly for symmetric interests. “In the last three years, Rwanda has provided about 10,000 work permits to Kenyans and Kenya is among top five sources of investment in the country. This was a result of good common market integration, freedom of right of establishment, freedom in movement and services, and government’s conducive environment for business promotion that Rwanda has made a reality,” she said. In Kenya, the company is engaged in infrastructure development and agriculture chain, among other projects, and Hattori says his company has also potential to develop similar projects in Rwanda. Hattori said they started by visiting Kenya, then Rwanda and the next is Uganda.

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Toyota Corp eyes Rwanda market