Investors from Turkey set to expand their businesses in Burundi
A delegation composed by businessmen from Ankara, Turkey, was welcomed on 13th March 2019, by Mr. Leonard SENTORE, CEO of Burundi Investment Promotion Authority to exchange on investments opportunities in the country. The visit is a result of investment promotion initiatives undertaken by the Burundi Embassy in Ankara to attract targeted Turkish investors and encourage them to explore expanding their business in Burundi. Ambassador Joël NKURABAGAYA accompanied the delegation led by Mr. Hakan YÜCELEN of the Ankara based YÜCELEN GROUP, a renown holding specialized in energy, oil and gas, construction, defence industry, textile, liner and harbors logistics, marine transport, etc.
The delegation from Ankara, Turkey
A brief presentation showed the country economics overview, the areas for investment, reforms undertaken to ease doing business, incentives granted to investors in accordance with the Investments Code provision. As a developing economy, Burundi remains largely untapped economically and therefore offers abundant business opportunities, little or no competition and the lowest labour costs in the region. Agriculture including fisheries and livestock, food processing, mining, energy, manufacturing and processing industry have been identified as priority sector by the Government. Burundi Government has also enacted legal frameworks that enable investments to be sustainable and is committed to ensuring a conducive environment to business development by guaranteeing in particular foreign and domestic investors the protection of their invested capital.
As appreciation, Mr. YÜCELEN said he was greatly impressed and together with his team they acknowledged the various investment opportunities and natural resources that can attract much needed foreign investments. He was thankful for a unique experience of warm-hearted welcoming way from the people of Burundi. Adding action to declaration, the Turkish investors registered 3 separate companies that will respectively be operating in energy, transport and agriculture sectors. Mr. YÜCELEN was very adamant and determined:” We have a long-time expertise in Turkey, Hungary, the Netherlands, Cyprus, etc. We are very committed, in a very short time the people of Burundi will witness, what we are able to achieve as Investors”.
Prior to visiting Burundi Investment Promotion Authority, the Turkish businessmen held meetings with other private sector and Government Institutions including the Burundi Federal Chamber of Commerce and Industry, the Burundi Revenue, the Aviation Regulating Authority, the Burundi Institute of Statistics and Economic Studies.