Kigali, Rwanda, 23 August 2010 —
The Investment Climate Advisory Services of the World Bank Group and Rwanda’s
Ministry of Trade and Industry today outlined a strategy to help Rwanda
build on recent, successful reforms that have lowered costs and simplified
procedures for businesses, while attracting domestic and foreign investment.
At an event held at the World Bank’s
office in Kigali and attended by public and private stakeholders, Rwanda’s
government presented the findings of an Investment Climate Survey of 340
businesses in Kigali and Butare that pinpointed areas in need of reform
to help Rwanda transform from an agrarian to a knowledge-based economy.
The survey, which studied microenterprises,
manufacturing firms, retail, construction, hotels, and other businesses,
found that ongoing reforms should lead to better access to electricity,
transport, and finance for the country’s growing private sector, further
reducing operating costs.
The survey also found that Rwanda would
benefit from greater participation in regional infrastructure investment
and services initiatives, including efforts to improve cross‐border transit
systems, power pools, and regional skills development programs.
IFC Director for Eastern and Southern
Africa, Jean Philippe Prosper, said, “Strong government commitment, a
clear agenda, and the unwavering support of stakeholders have helped Rwanda
achieve enormous success reforming its investment climate. The Investment
Climate Advisory Services of the World Bank Group is committed to helping
Rwanda enact further reforms, and in helping establish a national public-private
The World Bank Group and the European
Union will continue to help Rwanda strengthen its business environment,
but will increasingly focus on supporting the country’s efforts to attract
investment through the creation of the dialogue forum, the promotion of
special economic zones, and by encouraging more efficient business taxation.
At the Kigali event, Prosper presented
the Doing Business 2010 Global Best Reformer award to Rwanda’s Minister
of Trade and Industry, Monique Nsanzabaganwa, recognizing Rwanda as the
world’s top business reformer – the first time an African country has
claimed this distinction.
With Support from the Investment Climate
Advisory Services of the World Bank Group, the Netherlands, and the United
Kingdom’s Department for International Development, Rwanda jumped 76 places
to reach number 67 in the World Bank’s 2010 global ranking of the ease
of doing business.
The World Bank Group is helping Rwanda
improve its business environment, build institutions, and reduce the cost
of doing business through the Competitiveness and Enterprise Development
Project and the Rwanda Investment Climate Reform Program.
About the Investment Climate Advisory
Services of the World Bank Group
The Investment Climate Advisory Services
of the World Bank Group helps governments implement reforms to improve
their business environment, and encourage and retain investment, thus fostering
competitive markets, growth and job creation. Funding is provided by the
World Bank Group (IFC, MIGA, and the World Bank) and over fifteen donor
partners working through the multidonor FIAS platform.