Government upbeat after Davos meeting

For three days last week, global leaders in all sectors met in Davos, Switzerland for the 46th edition of World Economic Forum. The annual forum was held against the backdrop of uncertain global economic outlook characterised by falling oil prices, refugee crises and dull forecast. The forum also gave special focus to the Fourth Industrial Revolution which has caused excitement and fear across the world in equal measure. Just like the previous years, the annual meeting was attended by over 2,500 leaders of governments from all across the world, heads of world leading corporations and organisations as well as opinion leaders in different sectors. The forum has been often referred to as a meeting point for world leaders who influence and shape global social economic trends. At the forum, several renowned figures endorsed Rwanda as a forward-oriented country and ideal for business and investment. Among them was the head of International Monetary Fund, Christine Largade; and Bob Hammond and Ashish Thakkar, the co-founder of Atlas Mara Group, that has recently acquired majority stakes in two local financial institutions; and African Development Bank President Akinwumi Adesina, among others. The Rwandan delegation, led by President Paul Kagame, took part in several panelist sessions, and meetings, and hosted an evening dubbed Rwanda Night, that introduced several aspects of Rwanda to participants. The delegation also included Finance and Economic Planning Minister Claver Gatete, Foreign Affairs Minister Louise Mushikiwabo, Natural Resources Minister Biruta, the Minister for Youth and ICT Jean Philbert Nsengimana, and RDB CEO Francis Gatare. Gatete addressed a news conference alongside Ashish Thakkar and Bob Diamond. At the news conference, the minister showcased the opportunities and national priorities in the Rwandan financial services highlighting success stories and experiences of international firms that have investments in the country. Speaking to The New Times from Davos, Gatete said that the forum was a perfect opportunity for Rwanda to promote itself on a global platform, establish contacts with like minded partners and learn from peers and more developed nations. To capitalise on the opportunity, Gatete said that the Rwandan delegation took part in multiple sessions and arranged numerous meetings with different participants to give insights into Rwanda, opportunities available and ongoing work. “In these sessions and meetings, we explained various features of the Rwandan economy, business models and even over arching aspects such as regional cooperation and security,” Gatete said. The Rwanda Night, Gatete said, was an opportunity to showcase Rwanda to the world and extend invitation to the participants to the African edition of the forum slated in Kigali in May. Rwanda was last year announced as the host the African edition of the World Economic Forum this year, after Nigeria and South Africa in 2014 and 2015, respectively. For Rwanda, the conference was also an opportunity for the country to vouch for gender equality, technology and regional integration. The conference was also an opportunity for the country to forge partnerships and alliances with partners who share similar ambitions and goals. Through the various sessions held, countries gave insights into their national priorities, business environments, short-term and long-term plans allowing others to spot potential partners in development. “It is time for African countries to get rid of barriers at regional levels allowing free movement of people and goods as well as work together for shared prosperity,” Gatete said. However, experts say that it will be important for Rwanda to follow up on the contacts established at the forum and begin implementing on agreed activities with their partners, a task the minister said they were ready to embark on. The important thing to do now is to go an extra mile and start doing what was jointly agreed upon in the various meetings as well as pursue contacts created, Gatete added. The forum came at a time when Rwanda is in the process of promoting projects that require private public partnerships. The May forum of WEF is expected to provide another platform for the country to build more partnerships and highlight business opportunities. editorial@newtimes.co.rw

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Government upbeat after Davos meeting