Bangladeshi entrepreneurs keen to invest in Rwanda

Bangladeshi investors have promised to visit Rwanda to explore possible investment opportunities in the country.

This was one of the highlights of a meeting between Rwanda’s ambassador to Bangladeshi Ernest Rwamucyo, and Shafquat Haider, the Director of the Federation of Bangladesh Chambers of Commerce and Industry.

Bd-RwandaThe meeting, also attended by Joseph Kabakeza, First Counselor at the Rwanda High Commission in New Delhi took place after Rwamucyo presented his credentials to the President of Bangladesh, Abdul Hamid, on Wednesday.

Haider is also the Manager of Eskayef Bangladesh Ltd (SK+F), one of the largest pharmaceutical companies in Bangladesh.

“Eskayef Ltd expressed interest in exploring investment opportunities in Rwanda and will visit the country soon.

The High Commission will facilitate the visit in the first quarter of 2015,” Kabakeza told The New Times yesterday.

Shafquat Hider said the Bangladesh Chamber of Commerce and Industry was committed to promoting trade and investment between the two countries.

In the meeting, Rwamucyo reiterated Rwanda’s interest in promoting bilateral cooperation in trade and investment, textile and jute industry development and sharing of experience as well as capacity development in international peacekeeping.

Bangladesh is one of the world leaders in textile industry and is the largest contributor to United Nations peacekeeping operations.

Government is trying to woo foreign investors into setting up local drugs manufacturing plants to help cut on the cost of importing drugs.

Nathan Mugume, head of division, Rwanda Health Communication Centre, yesterday said: “The private sector has a fundamental role to play in this sector and we continue to lobby them such that those who are able may come in and invest.

Rwanda spends about Rwf7 billion annually on essential medicines.

Pharmaceutical Laboratory of Rwanda (Labophar) is Rwanda’s only drugs manufacturer.