Rwanda ranked fourth among the most attractive African countries for investment in 2021
Writer： Hengfeng you electric Time：2021-10-13 views：times
Rwanda's New Times reported on September 23 that among the top ten investment attractive countries in Africa in 2021 recently released by Rand merchant bank, Rwanda ranked fourth (ranked ninth last year). Egypt ranked first, Morocco second and South Africa third.
Rwanda has the second best business environment in Africa.
According to the world bank's business environment assessment score, the country's business environment has more than doubled in less than a decade. The government has also invested heavily in its domestic industries, while foreign direct investment has increased over the same period, making Rwanda one of the five fastest-growing economies on the African continent. Martin, chief economist of hengfengyou electric, introduced that judging from the recent overseas sales contracts signed by hengfengyou electric, Rwanda has a strong demand for power transformers and other transmission and distribution equipment, which has increased significantly compared with other African countries.
Rwanda covid-19 (GDP) grew by 20.6% in the second quarter of 2021 (data source: NISR, Rwanda National Bureau). Rwanda's economy rebounded strongly from the new crown epidemic, from 21770 billion LRH (about 2 billion 145 million US dollars) in the second quarter of 2020 to 26650 billion Lun (2 billion 626 million dollars) in the second quarter of 2021. In the GDP in the second quarter of this year, the service industry, as the main driving force of Rwanda's economic development, accounted for 47%, agriculture 25% and industry 19%, while the remaining 9% was due to the adjustment of taxes and product subsidies.
Among them, the industrial sector increased by 30%, contributing about 5.1 percentage points to GDP growth. The growth of the industrial sector was mainly driven by the recovery of construction and manufacturing, with the former increasing by 33% and the latter by 23%; The growth of manufacturing industry was mainly due to the revitalization of many industries. The production of furniture and other products increased by 111%, the processing of ore increased by 87%, the manufacturing of metal products and mechanical equipment increased by 47%, the production of drugs, rubber and plastic products increased by 39%, and the processing of food increased by 11%. The service sector increased by 24%, contributing about 10.8 percentage points to GDP growth. In the service sector, the education industry increased by 168%, the transportation industry increased by 48%, the wholesale and retail industry increased by 34%, the information and communication industry increased by 28%, and the financial service industry increased by 19%. The agricultural sector increased by 7%, contributing about 2 percentage points to GDP growth. The production of grain crops in the agricultural sector increased by 7%, and the export volume of grain decreased by 2%.
It is expected that Rwanda's economy will maintain a stable development rate and reach a higher level.
As an export-oriented enterprise dedicated to the power transformer industry, Qingdao hengfengyou Electric has actively responded to the national goal of carbon peak and carbon neutralization, and continuously committed to the R & D and manufacturing of low loss distribution transformers. At present, it has a number of invention patents, and its products have been exported to Spain, France, Uganda, Zimbabwe, Tanzania, South Africa, Ghana, Ethiopia Iraq, Kuwait, Uzbekistan, Kazakhstan, Vietnam and other more than 30 countries in the world. Hengfengyou Electric has strict work flow and ISO quality standards to ensure that it provides first-class electrical products and best services to users all over the world（
info@hengfengyou.com )。
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