Rwandan officials have urged Hungarian investors to explore the country’s promising investment landscape, emphasizing the potential for profitable ventures and a business-friendly environment.
The appeal was made by Rwanda’s Minister of Foreign Affairs, Olivier Nduhungirehe, and Minister of Sports, Nelly Mukazayire, during an official visit to Budapest.
Both ministers stressed that Rwanda offers a wealth of investment opportunities across multiple sectors, with a focus on sustainable growth and high returns for investors.
On the second day of their visit, Minister Nduhungirehe delivered a lecture at the Hungarian University of Foreign Affairs, titled “Rwanda’s Foreign Policy: A Visionary Framework.” He highlighted the key pillars of Rwanda’s foreign policy, which include security, peacekeeping, economic diplomacy, regional market integration, and promoting citizen-to-citizen exchanges.
The visit also saw the official launch of Rwanda’s embassy in Budapest, which has been operating since 2024. The ceremony was attended by Minister Nduhungirehe, who emphasized the embassy’s importance as a significant addition to Rwanda’s diplomatic network.
Speaking to the press, Minister Nduhungirehe reiterated Rwanda’s strong commitment to enhancing bilateral relations with Hungary, particularly in trade and investment. “We place great value on our relationship with Hungary,” he said. “Our aim is to elevate this partnership by attracting private investment. We are ready to build on this foundation to expand cooperation in business, trade, and mutual growth for our countries and people.”
Hungarian Foreign Minister Péter Szijjártó acknowledged Rwanda’s pivotal role in peacekeeping across Africa, noting that Rwanda has contributed significantly to regional stability with its large peacekeeping contingent. He affirmed Hungary’s willingness to collaborate with Rwanda in maintaining peace and security.
The newly inaugurated embassy will serve as a hub to further strengthen the bilateral relationship between the two nations in areas such as trade, investment, and tourism.
Rwanda’s Ambassador to Hungary, Margueritte Francoise Nyagahura, presented her credentials to Hungarian President Dr. Tamás Sulyok on March 26, 2024, marking a milestone in diplomatic relations between the two countries.
The partnership between Rwanda and Hungary has been growing steadily, with former Hungarian President Katalin Novák visiting Rwanda in 2023. The visit underscored the political commitment to cooperate in a range of sectors, including education, energy, water management, trade, and diplomacy.
Recent agreements have seen Rwanda and Hungary collaborate on educational opportunities, with Rwandan students being offered scholarships to study at Hungarian universities. The two countries have also committed to sharing training programs and enhancing capacity building initiatives.
Additionally, Hungary has pledged a $52 million loan to support the upgrade of the Karenge Water Treatment Plant in Rwanda.
In a further sign of growing ties, the two countries have signed agreements to simplify travel between them, making it easier for businesses and tourists to move freely and engage in cross-border exchanges.
