Austria seeks to increase investment in Rwanda | The new times

Former Austrian Chancellor Gerald Gusenbauer said his country is willing to deepen cooperation with Rwanda in different sectors and so far Austrian investors in Rwanda are satisfied with the way they are doing business.

Gusenbauer made the remarks on Monday July 18 at the Ministry of Finance during the signing of a financing agreement of 7.5 million euros (about Rwf 7.5 billion) between Rwanda and UNICREDIT Bank Austria for the construction of a center of excellence in TVET which will be located in the Special Economic Zone of Kigali.

This is Austria’s first soft loan to Rwanda and, according to Gusenbauer, is part of a major project. The school will be created and equipped using technology from the Austrian market.

“We believe this is a starting point for possible further cooperation and I hope you will be happy with it. It could invite us to think about more projects in the sector and as you know, the strategy of Global Housing Solutions (GHS) is; if we want to enter into a more sustained cooperation, we will not only bring things here, but also build something that can produce the same technology that we have here and offer job opportunities for young people,” Gusenbauer said.

The signing ceremony was held at the Ministry of Finance on Monday July 18. Craish Bahizi

The center of excellence will be built by GHS, a company based in Upper Austria which is one of the world’s market leaders in innovative and modular building solutions.

Gusenbauer also spoke about the perception that investors in his country have of Rwanda saying: “I have been informed that President Kagame is very interested in obtaining foreign direct investment from Europe, and I know from my friends who have investments here, they tell me they are very satisfied. with their investments

The Center of Excellence will enable the establishment of a modern and highly effective dual training program which will be a model for links between industry and academia enabling the exchange of training facilities such as workshops and equipment for mutual benefits.

It will also enable students to learn and acquire modern, high-tech skills applied in industry and aligned with current and future technologies and innovations; exchange of academic staff and experts from the industrial sector between the school and companies in order to improve the skills necessary for modern labor markets.

Speaking after the signing ceremony, the Minister of Finance and Economic Planning, Uzziel Ndagijimana, noted that the establishment of the TVET Center of Excellence will boost Rwanda’s existing initiatives towards the implementation of the skills development in the industrial zone through TVET.

Gerald Gusenbauer, former Chancellor of Austria talks about the deal .Craish Bahizi

“This funding supports human capital development priorities under our National Strategy for Transformation One (NST1), a pillar of economic transformation with the aim of increasing the number of TVET graduates with skills relevant to labor market,” Minister Ndagijimana said.

He added that; “We are planning more in several neighborhoods. Our strategy is to enroll about 60 percent in TVET schools. We are targeting the skills development, employment and entrepreneurship of these schools and this support is a contribution to this national strategy.

Currently, there are 456 TVET schools with 76,955 students of which 44% are girls.