Friday, March 29, 2024

World Bank Group Collaborates with Government of Rwanda to Host Roundtable on Investment Opportunities in Rwanda’s Floriculture

World Bank Group’s Rwanda Investment Climate Program supported the Rwanda Development Board (RDB) and Rwanda’s National Agricultural Export Development Board (NAEB) to host a roundtable on investment opportunities in floriculture in Rwanda. The roundtable is in line with continued efforts to diversify exports and investments in the Rwanda. The roundtable notably brought together actual and potential investors and operators in floriculture in Kenya.

Floriculture is identified as a high-potential sector for revenue generation and job creation in Rwanda’s development strategy. Indeed, the Government of Rwanda has a clear vision for transforming agriculture through private investment, and has set itself ambitious investment and export targets for horticulture.

Though it is still nascent, the sector is attracting interest from investors who are looking at Rwanda as a potential investment hub to export to regional and global markets. The roundtable offered the opportunity to highlight the potential of the floriculture sector in Rwanda, but also to present the package offered by the Rwandan Government to potential investors. Rwanda is notably banking on its geographical location, its natural assets, and its increasingly competitive business environment to attract investment in the sector. The roundtable also allowed for extensive networking between participants. In this roundtable, the government presented to potential investors 3 sites ready for investments with more than 100 ha for companies that are planning expansion.

Hamidou Sorgo, Program Lead, Rwanda Investment Climate Program, Trade & Competitiveness, World Bank Group, said “The World Bank Group has been working with Rwanda to improve its business environment and more generally its attractiveness to investors in sectors that are key for the country’s development”. “Attracting investors in the floriculture sector will allow Rwanda to position itself and compete favorably in this global value chain”, he added.

Ambassador George William Kayonga, CEO, NAEB, stated “Promoting investment opportunities in Rwanda is key in our country’s development strategy, and in this respect we have put an attractive package for investors in the floriculture sector and identified potential sites for growing flowers which we were happy to present today.”. Ambassador Kayonga added “The expansion of the floriculture sector in Rwanda will bring huge benefits to our country. It will also be an opportunity to market Rwanda as a destination for Foreign Direct Investment (FDI) as these investment opportunities will attract investors from different countries.

The Rwanda Investment Climate Program, funded by UKAid, looks to extend the benefits of regulatory improvements and investment efforts in the country. RICP notably supports reforms to improve government service delivery as well as the legal framework to encourage private participation in key sectors. It also supports efforts to attract inclusive private sector investment and enhance the overall competitiveness in agricultural input markets, horticulture and tourism.

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