The Minister of Foreign Affairs Vincent Biruta had a phone call with Franz Fayot, Luxembourg’s Minister for Development Cooperation and Humanitarian Affairs.
The two Ministers discussed ways to further strengthen Rwanda and Luxembourg cooperation in various areas inclusive finance, trade and investment.
Rwanda aspires to become a financial hub for international investment in the region and the collaboration between both countries targets several economic sectors with a focus on ICT and innovative financial sectors.
In March 2022, the Luxembourg (LuxSE) and Rwandan (RSE) stock exchanges signed a long-term MoU as a means to connect the financial markets in both countries.
Rwanda had also requested Luxembourg’s support for the implementation of the Kigali Financial Centre development project, given the Grand Duchy’s long-standing experience in inclusive and innovative finance.
In 2020, Rwanda’s Kigali International Financial Centre was set up in a bid to consolidate Rwanda’s position as a gateway for investments on the continent.
Several Luxembourg companies are active in Rwanda and several others have indicated an interest to do business in the country. (End)