RE: “Review regulation of foreign investments” (The New Times, December 22).
I fail to fully understand this argument—foreign investment, which I understand as money from abroad brought into the health, construction, infrastructure, hospitality, banking, manufacturing, agriculture, trade sectors of our economy. Now these funds come with purchases of land (cash into the hands of Rwandans), buildings/houses (or rental from other Rwandans or other resident foreigners), jobs creation, knowledge transfer and payment of taxes.
Of course, these investments come with foreign expensive expertise but that is somehow managed well in Rwanda when trying to get a working visa for expats. How is this bad for Rwandans? Plus, competition gives us a mindset of refusing entitlement and/or other forms of welfare.
Your argument would make sense in case of government-funded tenders where the bulk of it would go to foreign companies. I think that’s where mechanisms like teaming agreements with local companies, local preference should be enforced and regulated. Other than that, kudos to the Rwanda Development Board for bringing more investment in the country.
As for us Rwandans, let’s make sure we are active and more visible in these investments in our motherland as subcontractors, minority shareholders, consultants, employees, suppliers, etc.