News that several Indian companies have expressed interest in the Rwandan market reflects a new era of cooperation between Rwanda and the outside world, particularly Asia.
A Rwandan delegation recently concluded a tour of India, where up to 250 Indian investors participated in a road show led by Agnes Kalibata, the Minister of Agriculture.
The delegation engaged top Indian companies and business executives, showcasing the country’s investment opportunities as well as its business climate.
India, just like China, has made Africa a key economic priority.
With official statistics indicating that Indian investments in Rwanda are valued at US$145m, India is increasingly becoming a serious investor in the country. According to RDB, negotiations are underway for projects worth over US$600 million.
Indian investors are expected in such areas as health, packaging industry, production of construction materials, agriculture, large scale farming and ICT software.
This kind of relationship, which involves the exchange of resources, technology and knowledge but most importantly which is private sector driven is providing an opportunity to build a new era of cooperation away from the usual bilateral relationships.
It will also attract more Foreign Direct Investment (FDI) inflows into the country and help increase Rwanda’s integration into the global market.
And with the country now fourth easiest place to do business on the African continent, thanks to far-reaching business reforms, Rwanda will increasingly sell as a top investment destination to the developing world as much as to the leading economies.