The Rwanda Development Board (RDB) has announced 14 business reforms that are currently under implementation, a move that is aimed at boosting investments in the country and facilitate private sector growth.
The 14 reforms that fall under seven indicators evaluated by the World Bank Doing Business Report are expected to further improve the investment climate for both local and international investors.
This was announced Tuesday during a news conference about Doing Business reforms which was held at Telecom House, which was addressed by different officials.
Among the reforms include reduction and costs and time to obtain a construction permit which had previously been termed as expensive and time consuming.
To facilitate this, the City of Kigali authorities have introduced an online system, the Construction Building Permitting System available on the platform www.BPMIS.gov.rw.
The city also introduced a risk-based assessment has been introduction which will see low risk buildings benefiting from excessive permit requirements.
The new system brings down the number of days taken to acquire a construction permit to between five and seven days according to the City Executive Secretary, Didier Sagashya.
The reforms also include a new company law repealing the one of 2009 to incorporate new trends of corporate regulation.
The new provisions enhance the rights of minority shareholders, for instance, shareholders owning 5 per cent shares in a company can call for a shareholders meeting and place items on the agenda.
The new reforms have also made it easy to trade across border by scrapping off some documentation required and easing the access of other documents.
With that traders no longer have to go to the Rwanda Revenue Authority Offices to get a certificate of origin and can acquire it at any exit point or border.
Clare Akamanzi, the CEO of RDB said that the reforms are aimed at making the local business environment more competitive and more attractive for both local and international investors.
She said that they will continue to engage the private sector and other stakeholders to find out ways to further improve business environment.Follow https://twitter.com/ByCollinsMwai