Rwanda and Mozambique have signed an agreement that will boost their economic development through trade and investment activities.
The two countries through their respective institutions in charge of development, the Rwanda Development Board (RDB) and APIEX of Mozambique signed a Memorandum of Understanding (MoU) on October 6.
According to Zephanie Niyonkuru, Deputy Director General of RDB, the signed memorandum of understanding should allow the private sectors to implement various investment projects in the two countries.
Some of the potential areas of interest highlighted include agriculture and agribusiness, infrastructure, energy and tourism, among others.
He also said that Mozambique being a country that has direct access to an ocean and borders five countries, for example, is an opportunity for industrial companies to explore such factors in terms of products and the broader market.
Gil Bires, Director General of APIEX said that beyond excellent diplomatic relations, they wish to extend it to other areas, in particular business and commerce in general.
“In the agricultural sector, we can get our investors to partner here, producing for export, remember we are part of SADC (South African Development Community) and those who want to investing in Mozambique must have a regional perspective, ”he said. .
Adding that Rwandan investors can explore the available business opportunities and take advantage of the incentives offered to foreign direct investments.
“According to our legislation, we treat all investors equally. This means that the guarantees and incentives we offer to local investors are also available to foreign investors, ”Bires said.
The Mozambican delegation is to meet with the Rwanda Private Sector Federation (PSF) to discuss areas of mutual interest and processes required for investment.
A Rwandan delegation is expected to visit Mozambique soon to explore trade prospects.
Ease of logistics
Niyonkuru said they were in talks with RwandAir to have a direct flight to Mozambique to ease transport and logistics issues for investors.
“We believe that once we have an airline that will fly between Kigali and Maputo or any other city in Mozambique, it will take a leap forward in terms of direct flights,” he said.
Currently, people wishing to travel to Mozambique must go through Johannesburg or Addis Ababa.
Bires said that despite the insurgency in the north of the country, the rest of the region is good for investment.
“Those who come to invest in Mozambique will benefit from the legal framework we have for foreign direct investment. It is a safe country and a safe market, ”he said.
Over the past two weeks, President Paul Kagame has paid a working visit to Mozambique where he instructed deployed Rwandan forces to continue to rebuild and protect the country.
Rwanda has deployed around 1,000 troops and police to Cabo Delgado province in northeast Mozambique, which, together with the Mozambican Armed Forces (FADM), have successfully liberated several key towns from terrorist groups.