Singapore to boost Rwanda investment

KIGALI - Rwanda hosted a 17-member delegation from Singapore on a four-day trade mission to explore investment opportunities, as well as, establish closer and more concrete business relationships between Rwanda and Singaporean business communities.
Rogers Muyampenda the CEO of PSF and Robert Bayigamba meeting the singapore delegation at PSF( Photo T.Kisambira)
Rogers Muyampenda the CEO of PSF and Robert Bayigamba meeting the singapore delegation at PSF( Photo T.Kisambira)

KIGALI - Rwanda hosted a 17-member delegation from Singapore on a four-day trade mission to explore investment opportunities, as well as, establish closer and more concrete business relationships between Rwanda and Singaporean business communities.

The delegation comprised investors from various sectors including, Manufacturing, Energy, agriculture, IT, Security, retail and other services. 

Welcoming the delegation, the Trade and Commerce Minister, Monique Nsanzabaganwa, described the trade mission as an important step towards development and realizing the country’s goals.

She added that Rwanda has a lot to learn from Singapore, in terms of facilitating investors and effectively involving them in the country’s economic development. She advised them to make the most of Rwanda’s untapped investment opportunities in the various sectors.

The RDB Chief Operation Officer, Clare Akamanzi, reminded the delegation that Rwanda is on the fast track to development, and was in 2010 ranked as the 2nd top global reformer in Doing Business. She reminded them that one could open and register their company in less than 24hours either online or at the RDB offices.

By close of day, some members had confirmed their commitment to invest in Rwanda by registering their business.

Speaking to The New Times, the head of delegation, Hon. Rasheed Abidin Zainul, a Senior Minister of State in the Ministry of Foreign Affairs in Singapore, said

“Considering that more can be done for trade and business between Rwanda and Singapore, We are very excited to meet our counterparts in Rwanda. We are here to promote trade agreements that will facilitate exports between the two countries and we hope to forge partnerships with Rwanda companies for mutual gains as we develop as governments, and our people.”

The delegation was inspired to come to Rwanda after Minister Zainul met President  Paul Kagame and was convinced that Rwandan people must be equally focused and serious about the country’s development.

The delegation will have networking sessions with some government officials to discuss the business environment, trade promotion, presentation on various sectors, one-on-one business meetings, site visits to Kigali Industrial Park and other venues.

Zainul said. “The first thing we have to look at is how to invest in our own people and we are doing this together through programmes identified by Rwanda through the Singapore Cooperation Enterprise.”

He commended Rwanda for initiating the Workforce Development Authority (WDA), which he said is a major strategy in development.

Singapore Business Federation (SBF) represents the business community in bilateral, regional and multilateral forums for the purpose of promoting trade expansion and business networking and help the Singaporean companies to expand internationally.

Having been one of the less developed countries in 1960s, Singapore is now the world’s fourth leading financial centre and a world cosmopolitan city.

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