28 September 2008
editorial
Kigali — President Paul Kagame Wednesday called upon multinational companies to invest in Africa and other developing countries to help them achieve prosperity. He was speaking at the launch of the Business Call to Action, a function held on the sidelines of the UN General Assembly.
The president's call is timely and if acted upon by the multinationals, would go a long way in positively impacting on the lives of many in the developing world. By making this call, the president is speaking on behalf of millions of people who find themselves in the developing parts of the world.
One thing is clear; most multinational companies are based in the most developed countries. This would imply that by investing in developing countries, they would be transferring not only opportunities like availing markets to local raw materials, but also provide jobs.
At the same time, they would help to impart necessary and relevant skills that are paramount for development to materialize. By investing in less developed countries, they will at the same time be helping such countries to develop their human resource base.
This is because people wanting to tap such jobs that would become available, would find it necessary to improve their skill and train in areas that are relevant.
The President's call in a way can be characterized as a call for a paradigm shift in the relations between the developed world and the developing world.
Aid/charity was in the past put at the fore front, as a means to developing poor countries. But the passage of time has proved otherwise. It is through investment and trade that developing countries will achieve high levels of development.
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