The Rwanda Development Board (RDB) has assured visiting business personnel from the Czech Republic of an enabling business environment in the country.
The 30-member delegation led by the country’s Minister for Foreign Affairs, Jan Kohout is in Rwanda to explore potential areas of investment.
The group that had a business meeting yesterday with government officials and the Rwanda business community, is interested in investing in the areas of energy, manufacturing, aviation, agriculture, services, import and export promotion among others.
“We have chosen Rwanda, South Sudan, Uganda and Ghana as our economic mission in Africa and I hope our business community will find investment opportunities in these countries,” said Kohout in the meeting.
He noted that Rwanda offers potential business opportunities because the country performs well in the World Bank doing business reports.
According to 2013 Baseline Profitability Index by the Foreign Policy Magazine, Rwanda was ranked fifth-best destination for investment in the world out of 102 countries surveyed. The global study indicated that high returns of investment are accessible and to a great degree, retrievable to investors in Rwanda.
Borivoj Minar, member of the board, Czech Chamber of Commerce said that it was their first time in Rwanda but after holding meetings with government officials they have developed a strong feeling of establishing businesses in the country.
“Czech entrepreneurs are interested in investing in Rwanda in the areas of agriculture, aviation, and manufacturing and we want to establish a joint venture with Rwandan business people to promote exports and imports,” he said.
Minar stated that they are looking forward to partner with Rwanda to promote trade, innovation and entrepreneurship.
The group also toured Kigali Special Economic Zone.
Clare Akamanzi, the RDB chief operating officer said that Czech investors are looking to African markets where growth is going to be higher and Rwanda was chosen as one of their destinations.
“This shows that Rwanda is one of fastest growing economies on the continent because many countries are choosing the country as a potential area of investment. We are pleased by that. We are ready to offer them conducive environment to do their business,” she added.
Akamanzi stated that the European nation is a high income country and its investors are in line with people, Rwanda wants to partner with to promote investments.
She noted that RDB will continue working together with Czech chamber of commerce up to a point where there will be an influx of investors from there to Rwanda.”
“We haven’t done much with Czech Republic in terms of investments but the coming of these investors shows the beginning of the business journey with Rwanda.”
According to available statistics, RDB registered investments worth $1.2 billion (about Rwf800 billion) between January and June this year.
The investments represent 58 domestic projects, worth $ 509.1 million, 22 foreign projects, worth $406.9m, and nine joint ventures worth $338.1 million.
“Our economy has responded considerably well to business reforms, we have grown at an average rate of about 8 per cent over the last decade and we welcome you to Rwanda to explore areas of your business interests,” Francois Kanimba, the Minister for Trade and Industry told the delegation.
The 2013World Bank Doing Business Report ranked Rwanda the third easiest place to do business in Sub-Saharan Africa, after Mauritius and South Africa.