Rwandan private sector, Lankan biz community explore trade and investment opportunities

Wednesday, 9 February 2022 00:00 - - {{hitsCtrl.values.hits}}

As the Rwandan economy emerges as a powerhouse on the African continent, the country’s Private Sector Federation will visit Sri Lanka to explore opportunities for bilateral trade and investment, High

Rwanda High Commissioner for Sri Lanka Jacqueline Mukangira

Ceylon Chamber of Commerce Deputy Secretary-General

Alikie Perera

Commissioner of Rwanda to Sri Lanka, with residence in New Delhi Jacqueline Mukangira stated.

Addressing a webinar on Opportunities for Doing Business with Rwanda, organised by the Ceylon Chamber of Commerce and the Honorary Consulate of Rwanda in Sri Lanka, the High Commissioner accepted the invitation extended by the Ceylon Chamber of Commerce Deputy Secretary-General Alikie Perera, to the Private Sector Federation (PSF) – Rwanda, to organise a business promotion mission to Sri Lanka later this year.

She also requested the Ceylon Chamber of Commerce to lead a business delegation to Rwanda this year, to explore trade and investment opportunities in Rwanda.

Perera said that in addition to the existing MOU between the Ceylon Chamber and the PSF – Rwanda and a subsequent Sri Lankan business promotion mission to Rwanda in 2016, the webinar would ‘showcase opportunities to further strengthen trade, investment and tourism between the two countries’ and enable the creation of an action plan to promote bilateral trade and investment.

The sixth fastest growing economy in Africa with an average GDP growth of around 8% annually, Rwanda is home to a stable public sector and a vibrant private sector. As the country steadily climbs the ranks of economic performance in Africa, currently ranking second for the ease of doing business and having the lowest debt ratio in the region, it is actively encouraging bilateral trade and investment’ offering multiple opportunities for Sri Lankan businesses to expand their horizons in Rwanda, High Commissioner Mukangira said. “There is great opportunity for investment in sectors such as infrastructure (affordable housing, transport) manufacturing (packaging, textiles and garments), ICT, mining, tourism, health, agriculture, and agro-processing, etc. with several fiscal and non-fiscal incentives offered by the government,” she added.

Honorary Consul of Rwanda in Sri Lanka Cally Alles said that with Rwanda’s continued improvements in economic, social, and political spheres, Sri Lankan companies already operating businesses in Rwanda as well as potential investors could be assured of a sound investment environment.

Following the webinar, participants were able to address questions regarding conducting business in Rwanda, directly to High Commissioner Mukangira, thereby gaining an in-depth understanding of the investment climate and potential for Sri Lankan businesses.