Rwanda Development Board’s (RDB) “Doing Business Desk” has implemented new reforms to improve the business climate for both local and international investors, a senior official has said on Thursday.
The reforms that have been implemented include streamlining property and company transactions, introducing online transactions such as tax calculation and setting up a “One Stop Centre” for construction permits.
In an interview with Business Times, Frank Twagira, the Coordinator of Doing Business National Taskforce, a specialized business reform unit, said that the reforms have been implemented to continue easing and reducing the cost of doing business in the country.
“The idea is to facilitate doing business in Rwanda; we have continued to implement reforms and right now we have already started planning for 2012,” Twagira said.
The official also noted that the Task Force has also focused on deepening reforms implemented last year to address broader business climate issues.
Achieving the World Bank ranking as a top reformer for 2010 Twagira said, was the first stage as the country is broadening reforms.
The Task Force has also simplified the incorporation of companies by introducing online registration of business.
The ongoing implementation of key credit information reforms and systems by the Central Bank and operations of the first private Credit Reference Bureau will also ease access to credit by the business community, he said.
“Now it is possible to have your records serve as collateral to get a loan as it shows your payment patterns.”
The newly licensed private CRB Africa offers credit reports on demand.
The various reforms, Twagira said, will boost further the country’s ranking in the 2011 World Bank’s Doing Business Report which is due in November.
“What we have done is to consolidate what we achieved last year. Definitely we are going to improve (ranking). I am looking at a better score than 67th,” he said.
Last year the World Bank ranked Rwanda as the world’s top reformer in doing business.
The Bank said that Rwanda jumped to the 67th position in the 2009 Doing Business Report from 150th in the previous year.