RWANDA Trends and Developments Contributed by: Aimery de Schoutheete and Penina Ngabire, Liedekerke Great Lakes
various existing presidential orders, ministerial orders and regulations issued by the RMB. The 2024 Mining Law and related regulations provide a comprehensive legal framework gov - erning the licensing process and the rights and obligations of licensees. In addition, and in the same year, Rwanda adopt - ed a new minerals tax law, Law No 056/2024 of 26 June 2024 establishing tax on minerals (the “2024 Minerals Tax Law”), which repealed Law No 55/2013 of 22 August 2013 on Minerals Tax. Modern Transport Network Over recent decades, Rwanda has significantly increased the capacity of its domestic road net - work through infrastructure construction, reha - bilitation, upgrading and maintenance. Rwanda is now poised to improve regional and international connectivity with the aim of facili - tating international trade and reducing transport costs. In doing so, the Rwandan government is pursuing two avenues. Firstly, the government has been planning for years to connect Kigali (the nation’s capital) to the Indian Ocean and the nearest seaports by extending two existing railroads: the so-called Northern Corridor connecting Kigali to Momba - sa, via Kampala (Uganda) and Nairobi (Kenya); and the “Central Corridor” connecting Kigali with Dar Es Salaam. However, both projects are still under discussion and no official schedule has been announced. Secondly, the government has embarked on the construction of the new Bugesera International Airport situated 40 km south of Kigali. This USD2 billion project lies at the heart of Rwanda’s cur - rent development strategy and could also go
some way to solving Central Africa’s lack of connectivity. Investment Incentives In 2021, Rwanda revised its investment law by enacting Law No 006/2021 of 5 February 2021 on investment promotion and facilitation (the “Investment Law”). Pursuant to the Investment Law, mining activi - ties related to exploration, processing and value addition, as well as export, are considered pri - ority economic sectors. Therefore, a company registered in Rwanda carrying out any of these activities can become a registered investor by registering its investment with the Rwanda Development Board (RDB) and can thereby ben - efit from various incentives. Tax incentives include a preferential corporate income tax rate or corporate income tax holiday, exemption from capital gains tax and customs duties, VAT exemption on exploration and min - ing equipment, and accelerated depreciation. Non-tax incentives include facilitated access to the water and electricity networks, facilitated land acquisition and facilitation with obtaining visas and work permits for foreign workers. The list of incentives provided in the Investment Law is not exhaustive. Any registered investor may therefore negotiate additional incentives with the authorities, which may decide to grant them, depending on the specific characteristics of the contemplated project. Rwanda’s Near-Future Ambition: To Become a Mineral Value-Addition Hub in the Heart of Africa To become a mineral value-addition hub in the region, Rwanda has made modernisation of the
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