President Paul Kagame expressed high hopes to forge mutually beneficial ties with South Korea, stressing that the support from Asia’s fourth-largest economy to the continent, particularly Rwanda, is an investment for mutual gains.
“Korea should, in fact, say that the support they give to countries in Africa or to Rwanda in particular is a sort of investment,” the president said on Tuesday.
“It’s investing your money, your time, and your different resources so that a country develops but that development holds a lot of benefits that should come back to Korea.”
Kagame was in Seoul to attend the inaugural Korea-Africa Summit which he assessed as pivotal in bridging South Korea and the continent. During his visit to Seoul, he received an honorary doctorate in public policy and management from Yonsei University in recognition of his leadership.
The president said that the future of Africa is bright. Still, the continent needs human capital development so that African countries become self-sufficient enough to empower local capacities and promote growth.
In this aspect, Rwanda anticipates enhanced trade, technology transfer and cultural exchanges, leading to stronger, mutually beneficial relations with South Korea.
“I emphasized the importance of mutual benefit in partnerships, highlighting Rwanda’s rapid growth and the potential for Korean businesses to invest in various sectors such as ICT, manufacturing and renewable energy,” he said.
Rwanda and other countries on the continent should be able to leverage this support and raise themselves for building industries, and useful technologies for development, he said.
He noted that Korea is financing several projects in Rwanda to help build hospitals and other types of infrastructure. However, the president expressed his hope that Korea could extend its support beyond constructing institutions, hospitals, and schools to include technology infrastructure, enabling Rwanda to increase its per capita income.
“We shouldn’t expect friends and partners to come and do everything for us, but we need something; we need a hand to lift us to,” he said.
President Kagame further said, Rwanda offers a stable and investor-friendly environment, a strategic location and excellent connectivity within Africa.
He highlighted Rwanda’s appeal as a financial gateway for Korean businesses seeking entry into the African market, citing the nation’s stability, investor-friendly environment, strategic location and connectivity within Africa.
“Rwanda is open to all the Korean companies, absolutely,” Kagame said, urging the Korean government, industry stakeholders, and the wider private sector to utilize his country’s openness for partnerships.
Rwanda can facilitate Korean companies accessing broader African markets and enhance market penetration with its streamlined regulatory frameworks, robust infrastructure and special economic zones, Kagame said.
