Rwanda and Mozambique investors have agreed to promote and strengthen investment and trade cooperation in a new move that will ease doing business between the two countries.
This was done by signing an agreement as a legal document that will guide the new collaboration in Maputo capital Mozambique where over 50 Rwanda business operators are attending Rwanda-Mozambique business forum.
According to the signed memorandum of understating, the two parties will promote exchanges and cooperation through organizing economic and trade delegations, project study tours, exhibitions, seminars, investment briefings and high-level forums.
“This MOU that we are signing today is a testimony and willingness of both Private Sectors to collaborate and facilitate Business members to have a conducive Business environment,” said PSF Chairperson Robert Bafakulera after signing the agreement.
He said that Mozambique has key strategic ports such as Port of Maputo and others that can facilitate transport of imports and exports from and to the both countries since the ports connect with the regional east African Community members.
“Mozambique has put in place some investment incentives to attract foreign investors in some sectors especially in infrastructure, catering, hotel, ICT tourism, commerce and big projects and each has different tax exemption depending on location and size so please take advantage and forge serious partnerships with your fellow Mozambican Business Operators,” Bafakulera said.
The two parties will recommend and introduce each other to trade, investment and other cooperation opportunities and partners, encourage and assist various forms of cooperation between enterprises of the two parties in order to promote the development of economic and trade relations between the two countries, especially for small and medium-sized enterprises and counterpart cooperation enterprises.
The Private Sector Federation chairperson further invited the Mozambican investors to take up existing investment opportunities in Rwanda a member of East African Community with a huge market of over 300 million people.
The 4 Day-Trade mission happens a few days after the successful business forum in Egypt where over 80 Rwandan traders explored investment opportunities and PSF expects to organize more foreign trade trips to facilitate its members access international markets.