The Minister of Trade and Commerce, Monique Nsanzabaganwa has announced the government’s intention to establish Special Economic Zones (SEZ) that would facilitate both local and foreign investors in doing business in Rwanda.
Nsanzabaganwa made the remarks while presenting a concept paper supporting the SEZ bill before parliament yesterday.
“SEZs are increasingly used as an economic policy tool worldwide to promote private investment, industry and exports. They have the potential to be effective in the Rwandan context as they address key business constraints, including access to land for industrial and commercial development,” she told the Parliament.
She however said that, international experience shows that the success of SEZs is determined by the policies affecting how they should be developed and operated and incentives for users of SEZs.
“It is also critical that SEZ programmes are underpinned by a world-class legal framework which is currently lacking,” said the Minister.
Nsanzabaganwa also pointed out that government has previously highlighted the urgent need to put in place a legal framework based on international best practices, to guide the development of the SEZs.
Following the Minister’s presentation to Parliament, MPs are expected to scrutinize details of the bill before it is tabled in the House.