ST JOHN’S, Antigua and Barbuda: Rwandan President Paul Kagame has called for greater market integration, stronger institutions and closer cooperation between governments and the private sector, saying these are essential to unlocking investment opportunities across the Commonwealth.
Kagame made the remarks during a high-level panel discussion on unlocking the Commonwealth’s potential and shaping a better future for its people, where he joined Jamaica’s Prime Minister Andrew Holness and Samoa’s Deputy Prime Minister Mulipola Anarosa Ale Molioʻo.
Speaking during the discussion, the Rwandan leader argued that the viability and profitability of investment projects should take priority, with other challenges becoming easier to address once investors can identify commercially sustainable opportunities.
“We must educate people that if any project, irrespective of size, is feasible and looks profitable, the other problems to deal with are much simpler. That also calls for the integration of the markets, that’s why there is integration in our region, to make sure that the market grows in that regard. It is not just a small project in a small country but rather, a viable project in a growing market beyond the place where it is.
“Certainly there have to be policies, there have to be institutions that allow this to happen and that is the responsibility of any government. So we insist on governance and growing strength of institutions and making sure there is a connection between the public and private sectors,” President Kagame said.
Kagame’s contribution centred on the importance of expanding markets beyond national borders, particularly for smaller economies whose domestic markets may not be large enough to support major investment projects independently.
He argued that regional economic integration creates opportunities for businesses to reach larger consumer markets, making projects more attractive to investors and improving their commercial prospects.
He also pointed to the responsibility of governments in creating an enabling environment through effective policies, capable institutions and sound governance, while strengthening partnerships between public authorities and private enterprises.
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