KIGALI - Rwanda’s strategy in promoting trade and investment will serve as an example which other East African countries are set to follow.
This was disclosed after a two-day dialogue, held in Kampala, where Rwanda’s success story of investment facilitation, was shared with the other member states.
The Chambers of Commerce operating in East Africa, vowed to adopt Rwanda’s strategy as a way to fast track business growth in the region.
Among Rwanda’s successful initiatives, is the creation of the Rwanda Development Board that serves as a one-stop centre for investors.
The Board, offers various services to facilitate investment, including, company registration within 24 hours and adequate information on the available investment and trade opportunities.
For the last two years, the World Bank has ranked Rwanda as a top reformer in doing business after various policies to facilitate trade and investment were put in place.
Meanwhile, World Bank Vice President of for Africa Region, Obiageli Ezekwesili, commended Rwanda for the strong economic growth that has helped to improve the lives of the people.
“In Rwanda, we have supported programs addressing the connection of provinces to the national gateway in order to enable rural access to information; that is what gives the citizens the opportunity to participate in the democratization process and demand for accountability,” she said.
Ezekwesili, was speaking, via video conference to journalists across Africa, about The World Bank’s new approach to Africa’s development.
The new approach that focuses on improving infrastructure and basic services was crafted after extensive research and consultation to ascertain the priority areas for African countries.
“The plan is to intervene and compliment what both private and public sectors have achieved. We want to make sure that World Bank is ready to adapt as Africa continues to change and adapt,” she added.