Members of the Singapore Business Federation (SBF), who were in the country to explore investment opportunities have been impressed by Rwanda’s governance structure, which they said is conducive for the business community.
In an interview shortly after their wrap up meeting with officials from Rwanda Development (RDB) Board and Private Sector Federation, Christina Tan, the head of SBF mission in Africa, said that the delegation was impressed by the country’s development strategies.
During the meeting, the delegation was also briefed by Commissioner General of Rwanda Revenue Authority, Mary Baine on the country’s taxation policy.
“We really have positive feelings about the country’s good governance policies, especially the way corruption is handled and the President’s passion to develop the economy.”
“And the fact that Rwanda is emulating Singapore’s development strategies that has most of these investors gain more confidence,” said Tan.
She revealed that two companies have so far registered with RDB, and these are; Straits Trading Company Limited, a textile company and DPI Investments, which will be dealing in cement trading.
“Many others have shown interest and a lot of them will be coming back in January for registration and more negotiations with RDB,” Tan said.
Tan also added that the delegation’s confidence was attributed to the good bilateral relationship between the two countries.
The delegation comprised investors from various sectors including, manufacturing, energy, agriculture, IT, security, retail and other service providers.
Sheikh Babu Nooruddin, the Managing Director of the Straits Trading, said that this was the first time the company is extending its operations in Africa.
“This is going to be my first company in Africa and it is because I was impressed by this country’s government policies, I consider it as Singapore in terms of development strategies,” Nooruddin said.
He said his company will employ about 200 people and looks forward to investing in education and health sectors later.
Singapore Business Federation represents the business community in bilateral, regional and multilateral forums for the purpose of promoting trade expansion and business networking and helping Singaporean companies to expand internationally.