RDB makes a pitch for US investors

Washington—The Chief Executive of Rwanda Development Board, John Gara held a roundtable meeting with leaders of several major corporations in the United States, to whom he presented various investment opportunities in Rwanda.The event, which was hosted by the U.S. Chamber of Commerce- African Initiative, attracted executives from major corporations in the U.S. including Oracle, Boeing, IMB, John Deere, Citi, Trimble Navigation and PAE Group.The U.S. Chamber of Commerce- African initiative engages the American business community on legislative policies that foster foreign direct investment in Africa, to facilitate trade between the United States and African countries, and introduce U.S. companies to the continent’s vast economic opportunities.During the discussions, Gara underlined his satisfaction on the recent signing of the bilateral investment treaty (BIT). The ratification of the treaty would enhance protection including nondiscriminatory treatment of investors and investments; the right to freely transfer investment-related funds and prompt adequate and effective compensation in the event of illegal seizure of investment. It also includes freedom from specified performance demands, such as domestic content or technology-transfer requirements and provisions to ensure transparency in governance.Through BIT, Gara noted that Rwanda also hopes to build its capacity in trade areas and fill the specialised skills shortages. In addition to the bilateral framework between the two countries, Gara emphasised Rwanda’s deep business reform agenda that has steered it to be among the top 45 easiest places to do business, the third easiest in Africa and the first in the East African Community.Sectors such as agriculture, mining, tourism and Information Communication Technology were underscored as some of the few investment opportunities ready for exploitation in Rwanda.Gara pointed out that President Paul Kagame deems “people” as the most important resource a country hence the growing need to invest more in education and healthcare sectors.Rwanda’s Ambassador to the US, James Kimonyo, also highlighted trade and investment as important drivers of a country’s economic growth. During the discussion, Kimonyo noted that the United States’ economic strength and dynamism through the signing of the BIT not only deepens ties between the two countries, but also supports important foreign policy goals. He expressed his gratitude towards the Chamber’s unwavering assistance particularly after the signing of the BIT. The Ambassador emphasised Rwanda’s peaceful environment and political stability to re-assure the business moguls and feature its competitive advantage.Concluding the discussions, participants were encouraged to make Rwanda their next destination. Meanwhile, the U.S. Chamber of Commerce will lead a group of investors to Rwanda during the summer.

National

RDB makes a pitch for US investors