Rwanda, Jan 19 – Rwanda, Tanzania, Kenya, Burundi, and Uganda are among the East Africa countries that remain competitive in the East African region. From investments to infrastructure, the countries have continued to grow on a daily basis.
According to a report, the region remains on the pole position as the fastest growing sub-region on the content. A lot of efforts have been made to ensure the economy around the region improves. A number of policies that have been mended have been the major key factors to facilitate the development amongst the countries.
According to Khaled Hussein, Chief of Forecasting Section Macroeconomic Policy Division of the UNECA, the widening of local markets has given companies a cutting edge in getting more returns on investments. They have generated more revenue as opposed to the moment they could access limited market for their commodities.
Infrastructure developments have benefited industries as they could finally access areas where it was inaccessible for their domestic products. Poor infrastructure has shied off growth of businesses in the remote areas, enhancing imbalance in economic growth. However, with improvements being made, the GDP performance seems to be growing.
East Africa GDP is set to rise by 3.5 per cent in 2018, with little reliance on imports. The stability of the region will be through more of exports by local industries given a chance to compete in the global markets.2.5 per cent will be catapulted by key players supporting the various fields in the economy.
Automobile investors have started making their marks on the East Africa region with Volkswagen penetrating the Rwanda market and set to begin its operations in April. Toyota and Foton have as well made their works earlier this year with the competition set to bring other business opportunities on board. Governments are still working on their projects for the new year to increase the GDP outlook.