Business
Burundi is ‘too’ business friendly
EAC presidents from left Yoweri Museveni (Uganda), Paul Kagame (Rwanda), Jakaya Kikwete (Tanzania), Mwai Kibaki (Kenya) and Pierre Nkurunziza (Burundi) sign the Common Market Protocol during the EAC 10th anniversary held at Arusha International Conference Centre on November 20 2009. Photo/PHOEBE OKALL
Posted Sunday, January 1 2012 at 12:14
Starting a business in Burundi used to take 32 days, now it takes just two days.
The duration has been shortened probably because previously there used to be nine procedures before one started a business and now there are only two procedures, thanks to a new investment law introduced by the Burundian government.
Burundi hopes the reforms will attract more foreigners to come and set up business especially in tourism, agro-businesses and the processing industry.
So far, there is something to cheer about; foreign direct investment (FDI) into Burundi grew 4 per cent to $104 million in 2011, according to figures released last week.
But going by the experience in the region, Burundi now ought to start thinking hard about its export competitiveness. The nation still relies heavily on raw coffee and tea exports. Value addition, to its raw exports, should be the way to go evens as Burundi looks to attract FDI.
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