On the sidelines of the Transform Africa Summit, Rwanda and Hungary are holding a business forum and Representatives of both governments are showcasing investment opportunities in both countries.
Rwanda and Hungary are both landlocked countries and both economies share similar challenges. Officials from both countries are sharing experiences and looking at striking deals.
The RDB Chief Investment Officer, Guy Baron presented to the forum different investment opportunities in the priority economic sectors of Rwanda while highlighting why Rwanda is a leading proof-of-concept investment destination.
“We are looking at partnering with the Rwandan private sector in promoting SMEs, exports, ICT and other investments that improve the lives of Rwandans,” says H.E Istvàn Joó the Hungarian Deputy State Secretary for Export Development at the Ministry of Foreign Affairs and Trade.
For example in Hungary the major contributors to its economy are the Construction Industry, the Mining industry, the textile industry, the chemical industry, pharmaceutical industry, the automobile industry, the food processing industry and the agriculture sector.
Rwanda also is looking for strong investments into its construction industry, Mining industry which is a major contributor to exports. Rwanda is also interested in widening its food processing potential mostly hinged on the agriculture products that would boost job creation.
Hungary and Rwanda may also tap into the Agriculture sector which may help Rwandan farmers export directly to Hungary and could as well sell agriculture technology and innovations to Rwanda which seeks to blend technology in local farming.
Rwanda which is highly interested in expanding its tourism sector currently one of the largest foreign exchange earners, may want to tap into deals with Hungary with budding tourism.
For example Hungary attracts more than 10 million tourists a year. This country is a Schengen Area and also the European Union single market. Rwanda would want to attract tourists from this part of the world to sample natural attractions such as game in the wild including mountain gorillas, birds and herds of wild in Akagera national park.
Quick things to know about Hungary
What would a Rwandan investor find quickly interesting to engage in while in Hungary? Food Processing Plant, Poultry and Egg Supply Business, Meat Mart, Hospital and Pharmacy Business, Textile Manufacturing Company,Recreational Park,Plumbing Business, Dietary Supplement Wholesale and Beauty Business and recording studio.
Hungary shares borders with 7 European nation; Austria, Ukraine, Slovakia, Serbia, Croatia and Slovenia.
Hungarian is the official language of Hungary and English and German are also widely spoken in Hungary.