The Burundi Development Agency (ADB) recommends close collaboration with the Ministry of Foreign Affairs to increase foreign direct investment in Burundi.
“The majority of foreign investors are not informed about business opportunities in Burundi”, lamented Didace Ngendakumana, Director General of the ADB, during a workshop on the reflection of synergy between the ADB and the Ministry of Foreign Affairs for the promotion of foreign investments, this June 7.
He urges Burundi embassies in different countries to identify and bring together investors to boost foreign direct investment. And to call on these diplomatic representations and the diaspora to inform foreigners about the business opportunities available in Burundi. The objective pursued is to double the number of foreign investors in Burundi each year.
Reforms, he continues, have already been implemented in Burundi to encourage foreign direct investment. “Almost all the factors attracting foreign direct investment are currently available in Burundi”.
Among other things, he emphasizes political stability, security, an attractive investment code and the involvement of the country’s high authorities in promoting business.
According to the ADB, the exercise of attracting investors comes up against certain challenges: the insufficiency of the ADB’s budget for promotional kits, a poorly sensitized diaspora, the language barrier as well as investors disguised as commissionaires. Some workshop participants also regret that Burundi is little known abroad.
For Hermenegilde Niyonzima, adviser to the office of the Minister of Foreign Affairs and Development Cooperation, Burundi is still a virgin country in terms of investment.
“Sectors such as the production industry, mining, tourism, textiles, agro-food, tanning, fishing, information technology are still to be developed”, he underlines.
And to recall one of the missions of the Burundian diplomatic representations: to inform foreign investors about business opportunities and to make them aware of investing in Burundi.
Note that Burundi has about 30 embassies and consulates located in the four corners of the world.
Source: IWACU Burundi