Rwanda, Mozambique sign MoU to promote trade and investment

On 7 October 2021 at 06:33

The Government of Rwanda and Mozambique have signed Memorandum of Understanding (MoU) to promote trade, attract and facilitate investments in the two countries.

The MoU was signed on Wednesday 6th October 2021 between the Rwanda Development Board (RDB) and Investment and Export Promotion Agency (APIEX) on behalf of Mozambique.

During the ceremony; Mozambique was represented by the Minister of Trade and Industry, Carlos Alberto Fortes Mesquita; Presidential Adviser, Omar Ossumane Momade Mitha and Luis João Matsinhe, the National Director of Studies and Economic Analysis at the Ministry of Planning and Development among others.

Meanwhile, Rwanda was represented by senior economic advisor to the President of the Republic, Francis Gatare; Minister of State in the Ministry of Finance and Economic Planning , Richard Tusabe and the Permanent Secretary at the Ministry of Trade and Industry among others.

Rwanda showcased investment opportunities to the visiting delegation from Mozambique and took them through different incentives to provide favorable business environment for Rwandans and foreigners.

The Deputy CEO of RDB, Zephanie Niyonkuru said that the signed MoU lays the foundation for implementation of priority activities under the framework set between both heads of state when President Paul Kagame visited Mozambique recently.

“Both heads of state assigned us to make possible efforts so that private investors can benefit from existing cordial bilateral relations. The signed agreement is just the beginning and a fruit of discussions held during the visit,” he said.

Niyonkuru said that both countries agreed on cooperation to support and facilitate business communities to invest in each of the two countries.

The visiting delegation is also expected to interact with members of the private sector in Rwanda to take them through investment opportunities in Mozambique and available incentives.

RDB and the private sector also plan to visit the country Mozambique to explore areas of investments and invite Mozambicans to invest in Rwanda as well.

“We are exploring different areas of investment including agro-processsing. Concerning trade, Mozambique is connected to the sea and borders with five countries. This signifies that it is easy to transport goods to other countries when you are running business there,” explained Niyonkuru.

The Director General of APIEX, Gil da Conceicao Bires has revealed that they are set to encourage Mozambican investors to invest in Rwanda.

“We have been impressed. Rwanda has ample investment opportunities particularly in agriculture. Rwanda has a variety of crops which can be exported to our country. Besides, we are members of the Southern African Development Community. Trading with us provides direct linkages to these country members,” he said.

Gil Bires explained that Rwandans can also explore investment opportunities in agriculture, trade, and infrastructure and health sector among others.

The MoU between Rwanda and Mozambique was signed on Wednesday 6th October 2021.