Rwandan Private Sector and Sri Lankan Business Community to Explore Trade and Investment Opportunities in both Sri Lanka and Rwanda

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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 Commissioner of Rwanda to Sri Lanka, with residence in New Delhi, Her Excellency 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, H E accepted the invitation extended by the Deputy Secretary-General of the Ceylon Chamber of Commerce, Mrs. Alikie Perara, to the Private Sector Federation (PSF) – Rwanda, to organise a business promotion mission to Sri Lanka later this year.  H E also requested the Ceylon Chamber of Commerce to lead a business delegation to Rwanda this year, to explore trade and investment opportunities in Rwanda.

Mrs. 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, investmen,t and tourism between the two countries’ and enable the creation of an action plan to promote bi-lateral trade and investment.

The 6th fastest growing economy in Africa with an average GDP growth of around 8 percent 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 2nd 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, H C Mukangira added.  ‘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’. Mr. Cally Alles, Honorary Consul of Rwanda in Sri Lanka added 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 H C Mukangira, thereby gaining an in-depth understanding of the investment climate and potential for Sri Lankan businesses.