Nation’s business executives commended on competitiveness

Fifty business executives have been awarded certificates after concluding a three-day training on micro-economics of competitiveness, aimed at promoting business and economic competitiveness in Rwanda. The programme explored government’s efforts to push for economic development on a national and internationals levels. Recently, the country’s Investment and Export Promotion Agency (RIEPA) launched the Rwanda Competitiveness and Export Fund (RWACEF) for private companies to boost their competitiveness on the international market. Former State Minister for Industry and Investment Promotion, Vincent Karega said that government believes in economic growth through a competitive and liberal business environment. The three day training organised by Private Sector Federation (PSF) was facilitated by professors from Harvard Business School’s Institute for strategy and competitiveness based in America. It was the third workshop since 2007. It attracted among others Anthony Masozera of MTN, Robert Mathu of the Capital Markets Advisory Council (CMAC) and Rosette Rugamba of Tourism and national parks (ORTPN). According to Prof Wahome Gakuru, the training equips CEOs at several levels with knowledge to make profound decision for applying the available resources in order to stimulate economic development. The national, firm and the clusters from microeconomic perspectives were the CEO levels considered. Prof Michael Unger also explained that the resources available require tapping from the private sector’s, with the help of government support in order to achieve economic development. Government support involves opening up the market, access to finance, policies that make easy to do business like deregulation, reduce red tape, low tax rates, and favorable exchange rate. Unger continued that it is after government has done its part that firms ca become more, “competitive, aggressive marketing, good quality of products and strategy.” Emmanuel Hategeka, the Secretary General of the PSF said, “The objective is to learn what it takes for a firm and nation to be competitive, which we have learnt from the different successful stories.” Case studies of successful stories such as were used as models to illustrate the significance of strategy, innovation and competition. Hategeka said that since 2001 there has been a lot of business progress in the country but, “we have reached that phase where we need to take the next step to improve.” Ends

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Nation’s business executives commended on competitiveness