“What Rwanda has to offer is really a vision for the private sector,” .. “Over the years, we have made drastic reforms to improve the investment climate.” In the World Bank’s Doing Business index, Rwanda was ranked the No. 1 reformer in the world last year and No. 2 this year .. “We intend to continue reforming in order for Rwanda to be the easiest place in Africa to do business. . . . We intend to continue the reform process and deepen the reform process so that, ultimately, we can become the Singapore of Africa.”
In the World Bank’s 2011 report, Rwanda is tied with America as the earth’s ninth-easiest country in which to start a business ..
“We are focused on making it simpler for businesses to get into the tax system and be compliant,” .. “One of the things we are looking at is a flat-tax system, which is currently under study ..”
Rwanda has ditched its capital-gains tax, dropped its 6 percent “arrival tax” on investment capital, dumped export taxes, decreased dividend-withholding taxes from 15 percent to 5 percent, and accelerated depreciation on purchased assets. Ranging from 20 to 28 percent, Rwanda’s corporate taxes easily trounce America’s 35-percent business levy.
Meanwhile, Rwanda identified 72 state-owned companies for privatization and has sold off all but ten, including hotels, banks, and the national telephone company.
Rwanda improves steadily and does so with infectious self-confidence. These days, alas, it’s hard to say that about America.