Rwanda Private Sector Federation (PSF) and the Mozambique Confederation of Economic Association have signed a memorandum of understanding (MoU) that will strengthen trade relations between both countries.
The MoU was signed at the Mozambique – Rwanda business forum on Saturday in front of President Filipe Nyusi of Mozambique who concluded three day state visit to Rwanda.
“This agreement intends to strengthen collaboration in public private dialogue and business partnership between the two federations,” said Rwanda development Board CEO, Claire Akamanzi.
On the Rwandan side, Mozambicans will be able to get 0% corporate income tax rate for companies who invest in Rwanda, 15% corporate income tax for strategic economic sectors and a seven year tax holiday.
With the open airspaces, visa waiver agreements signed yesterday, Rwanda is expected to fly easily and tap in the Mozambican resources like energy, tourism, infrastructure and specifically the agriculture sector.
President Nyusi said that the already existing good relations between both countries will ensure that businesses and investments continue to thrive and benefit the entire region.
“The Special Economic Zone in Rwanda is an inspiring module that encourages us to do more, this can be replicated in many parts of our country,” said President Nyusi.
To further the business relationship and exchanges RDB CEO Akamanzi announced that Mozambique will participate in the trade fair that will take place in Kigali – August 2018.
On the other hand, Rwanda PSF will participate in the upcoming Mozambique trade fair.