Rwanda has made the biggest strides in becoming business friendly by introducing reforms in seven out of the 10 categories, rising from 143rd to 67th place on the ease of doing business rankings. The country has the added accolade of being the first Sub-Saharan country to head the list as the top reformer since the first rankings six years ago. However, considering government’s efforts over the past few years, this is no surprise. The business and investment climate in Rwanda has been growing over time; there has been a conscious effort by government in making it very attractive in recognition of the fact that the development of the country had to be supported by a healthy private sector. To develop a healthy private sector, government recognised that the business environment has to support the growth of the private sector. So over the past thirteen years, government has been implementing different reforms in order to make the investment climate attractive to local and foreign investors. First of all as a basis for business, investors fancy predictability. Rwanda recognises that and is striving to offer a guaranteed peaceful and secure environment for investors and their investments. In relation to that it has got a zero tolerance stance to corruption. In other countries the cost of doing business is hiked by the cost of corruption and creates a lack of certainty about government procedures and processes. In addition, the country has got liberal economy and no restrictions on the level of equity holding that an investor can have in a particular project. The legal and institutional frameworks are equally accountable for the positive business environment. Connected to that, a business law review project to modernise commercial laws has been finalised. Investment climate facility project supported by the Investment Climate Facility for Africa (ICF) was initiated basically looking at three areas of land registry, business registry process, as well as the commercial district resolution. They have supported ways of improving capacity of people working in those areas as well as ways of improving the system in order to ensure proper execution of work. This has been a very good project that has supported and will continue to support the country’s ambition to make investment climate better. With all the highlighted efforts government has undertaken to promote investment, it is undoubted that the red-tape cut, thus encouraging businesses create jobs and alleviating poverty. As highlighted by the Doing Business that reforms can play an important role in enabling countries to recover from the economic crisis, the little credit crunch shock Rwanda has felt may seize to exist. Bravo the government of Rwanda but there is space for improvement. Let’s leave to achieve the EDPRS and EDPRS and Vision 2020 dreams. alex.twahirwa@minecofin.gov.rw
