Holveck also denied reports the Bretons had received offers for the 17-year-old midfielder from other clubs.
"He is set to stay with us this season," he said.
"He is still very young. He is a very thoughtful boy, he is very mature. He knows where his sporting interest lies at the moment."
Camavinga, who became Rennes' youngest ever player aged 16 and four months last April, made 25 Ligue 1 appearances in the 2019/20 season which was cut short due to the coronavirus pandemic.