Business with a ‘human face’

THE Turkish Government has taken the lead in pushing the international community to do “business with a human face by resetting the global development agenda” and strengthening its commitment to sustainable development.This comes in the wake of Africa’s reputation as the dumping ground for counterfeit goods, poor business practices by multinational corporations, bad environmental measures and outflow of resources.The new investment model was unveiled during the Global Human Development Forum in Istanbul, in which more than 200 leading development experts, civil society activists, and private sector representatives met to tackle the need for reinforced global and national sustainable development strategies. The high-powered forum was jointly organised by the UN Development Programme (UNDP) and Turkey’s Ministry of Development, and came as a high-powered Rwandan delegation led by President Paul Kagame was visiting Istanbul, last week, on a working tour.At the heart of the visit was a strategy to interest the Turkish government and its strong business community in investment opportunities in Rwanda, which is gaining a solid reputation as the jewel in the East Africa’s crown of business and trade opportunities. The country is also a bastion for ethical business practices.Rwanda has, in recent months, proved to be a strong magnet for business delegations from China, India and Nigeria. According to President Kagame, his government had responded well to reforms and the economy had grown by 8 percent over the last decade. He told Turkish investors that through Rwanda they could also look at the wider East Africa Community (EAC) market with its population of 130 million, and a functioning Customs Union that allows the free movement of goods and services within the bloc.Istanbul DeclarationThe two-day Forum adopted the unanimously-approved Istanbul Declaration calling on the international community to take bold action against social inequities and environmental deterioration when delegates meet at the UN Conference on Sustainable Development, also known as Rio+20, in Brazil in June. It called for a responsible business environment in which the rights of all were safeguarded and that investors uphold their Duty of Care to protect the environment, engage in ethical corruption-free practices and not undertake any action that will be detrimental to local communities.Noting that economic development has frequently meant environmental degradation and increased inequality, the Declaration also urges members of the global community to ensure that their development strategies promote key elements such as social inclusion, social protection, and equity. During President Kagame’s visit, the Turkey-Rwanda Trade and Investment Forum was held where the Rwanda Development Board showcased its basket of business opportunities.“We are determined to translate these prospects into productive business that will benefit investors and at the same time contribute to the growth of the economy, ultimately leading to the transformation of the lives of our people,” he said. The Head of State said Rwanda has worked progressively to improve its investment climate in order to make it easier for businesses to turn around within the shortest time possible when it comes to registration and the general environment.Indeed, registering a business in Rwanda now takes only six hours, which is a first for the region. The country was also recently declared the most business- friendly destination in East Africa, the third in Africa and the second top reformer globally by the World Bank.Rwanda has been ranked the third easiest place to do business in Africa after Mauritius, which ranked first and South Africa, which came second, according to the 2012 World Bank Doing Business Report.The prestigious World Bank Doing Business Report is considered the most authoritative guide to destinations where foreign business should go when seeking investment opportunities, sound judicial systems and corruption-free governments.Getting it right The Istanbul Forum was told that “sustainable development recognises that our economic, social and environmental objectives are not competing goals that must be traded off against each other, but are interconnected objectives that are most effectively pursued together in a holistic manner.” “We need an outcome from Rio +20 that reflects this understanding and that relates to the concerns of all,” said the UN secretary- General Mr Ban Ki-moon, in an address read on his behalf. In addition, it also endorses UNDP’s 2011 Human Development Report –Sustainability and Equity: A Better Future for All – stressing the need to maintain progress towards meeting the Millennium Development Goals in 2015 while building a consensus for a new post-2015 global development framework. “In 2011 and so far in 2012, we have heard clear warnings from nature that humanity is arrogantly pushing her boundaries, just as we have heard societies demanding human rights and justice, opportunities and decent jobs, affordable health care and energy access,” said the Director of UNDP’s Bureau of Development Policy, Olav Kjorven. “Responding successfully will require decision-makers from across the environmental, social and economic divides coming together to create the future we all want,” he added. More than 100 Heads of State and Government will be attending the conference in Rio de Janeiro, making it one of the largest such high-level gatherings in recent times.

National

Business with a ‘human face’