The European Union’s Ambassador to Rwanda, Michael Ryan, talks about the great strides the country has already taken, the work that still needs to be done and the role of the EU in supporting economic development, peace, and stability within Rwanda and the wider region.

European Times: What are the competitive advantages offered by Rwanda from an investor’s perspective?

Michael Ryan: Companies can enjoy several benefits here. The regulatory framework is improving with a strong judicial and fiscal regime. While the tax incentive structure has not been fully worked out, the government is taking steps in this direction. The investment code, for example, is currently progressing through parliament. I see a society enjoying the benefits of rapidly increasing infrastructure development, expanding connectivity through its aviation and ITC network, excellent transport routes, and a sound legal system. When an investor does due diligence on any country, these issues would certainly be a priority. On top of this, Rwanda is an active member of the East Africa Community, and I believe its close partnership with the European Union sends a strong signal of confidence and shared values to potential investors. 

Michael Ryan, The European Union’s Ambassador to Rwanda
Michael Ryan, The European Union’s Ambassador to Rwanda

European Times: How is the EU supporting economic development in Rwanda?

Michael Ryan: Andris Piebalgs, the former European Union Commissioner for Development, signed the €460 million aid budget for Rwanda in September, covering the next five years. The funding, which is 20% up on the last cycle, will come from the 11th European Development Fund. The EU feels strongly that poverty alleviation is the underlying objective of its financial support and we are working on a number of projects with this rationale in mind. In the energy sector, this entails finding ways to improve the reliability and security of power supply to the national grid, as well as off-grid solutions. In agriculture, we are working to develop the high value horticulture sector. The EU is offering support for accountable governance with the intention of strengthening institutions such as the ombudsman, the Parliament, the Auditor General, the Ministry of Finance and the National Institute of Statistics, as well as civil society.

European Times: What role does the EU play in promoting stability in the region?

Michael Ryan: The EU is translating political backing for the Peace, Security and Co-operation Framework Agreement signed in Addis Ababa in February 2013 into practical action. This includes measures to improve trade, upgrade infrastructure and provide humanitarian assistance to refugees. We are helping to foster the vibrant Rwanda-DRC border trade, for example. We are also working to secure financing for the Ruzizi III hydroelectric project in conjunction with other donors and banks. This will provide a major boost to power production to the region. Finally, we are fully supporting initiatives to disarm militias in the Kivus region.  We do this in close collaboration with Rwanda and its neighbours, including DRC, and with other international actors, notably the African Union and ICGLR, the conference of Great Lakes countries.