President Paul Kagame has challenged perceptions that investing in developing economies is inherently more risky or costly, urging Commonwealth countries to create conditions that allow viable businesses to attract investment, expand into wider markets and generate employment.
He said investment was essential to creating jobs for young people, equipping them with practical skills and supporting economic growth, but argued that changing attitudes towards risk and strengthening cooperation were necessary to unlock more opportunities.
Kagame made the remarks during a high-level discussion at the 28th Commonwealth Heads of Government Meeting (CHOGM) in St John’s, Antigua and Barbuda. The discussion focused on how member countries could use their collective strengths and resources to build a better future for their populations.
He said people needed to recognise that an investment project could succeed regardless of its size if it was viable and had the potential to generate profits.
“We must teach people that if any project, regardless of its size, is viable and shows the potential to be profitable, the other problems that need to be resolved become easier to deal with,” he said.
Kagame challenged the perception that investment in developing economies, particularly in the Global South, carried greater costs or risks than investment in developed countries. He argued that risk was present in every investment environment and should not, on its own, discourage investors.
Instead, he called for stronger partnerships, cooperation between countries and the pooling of financial resources and expertise to help investors manage potential losses.
He also emphasised the importance of integrating markets, saying businesses needed access to opportunities beyond their domestic economies to reach more customers, expand their operations and improve their prospects of profitability.
Regional market integration, he said, would allow investors to consider opportunities across a wider economic area rather than limit projects to the relatively small market of an individual country.
Kagame said governments had a responsibility to establish policies and institutions that support investment and make it easier for businesses to operate.
“We need policies and institutions that make this possible, and that is the responsibility of every government,” he said.
He added that good governance, strong institutions and cooperation between the public and private sectors were essential to creating an environment in which businesses could grow.
The President linked increased investment directly to opportunities for young people, saying it could help them acquire practical skills, find employment and contribute to economic development.
The discussion was also attended by Jamaican Prime Minister Andrew Holness and Samoa’s Deputy Prime Minister, Mulipola Anarosa Ale Molioʻo.
Molioʻo highlighted the importance of Commonwealth countries making better use of their available resources and capabilities to improve the future of their populations.
The 28th CHOGM is taking place from November 1 to 4 in St John’s, under the theme “Accelerating Partnerships and Investment for a Prosperous Commonwealth.”
The meeting brings together heads of state and government from Commonwealth member countries, alongside ministers, private-sector representatives, civil society organisations and young people.
Discussions are focusing on strengthening trade among member states, attracting investment and expanding partnerships that can deliver economic benefits. The programme includes high-level discussions, meetings of Commonwealth leaders and engagements with private-sector representatives.
