Kigali — An American-Slovak investment group, Bay View, has pledged to remain firm and committed to the continued investment in Rwanda for the development of human resources and socio-economic development of the country.

The group that currently owns a Cassterite mining concession in Kibuye, is eyeing spreading their investments into assembling cars and agro equipment.

Speaking to The New Times, the group's Rwanda' country manager, Bill Quam, revealed that their next target is to venture into car assembling, production of fertilizers and assembling of agro equipment.

"Rwanda offers one of the best investment conclusive climates in central Africa and doing business in the country has been eased by a set of reforms that favour investors," Quam said.

The Kigali-based agro equipment plant will assemble brands of Locust tractors for farmers and export them to Kenya, Tanzania, Burundi, Democratic Republic of Congo and Uganda

"We were attracted by Rwanda because the country is politically stable and its leadership is keen on attracting investments" Quam said

"With all the instability in Central Africa, our group believes Rwanda offers security to our investments".

"You know, Slovakia's GDP comes mainly from the services sector, the country's industry also plays an important role within its economy. This is the approach we intend to use here" Quam revealed

Slovakia's main industry sectors are car manufacturing and electrical engineering. Since 2007, it has been the world's largest producer of cars per capita.

The group has earmarked Kia Motors as possible manufacturer to willing to set up a plant in Rwanda.

The entrepreneurs said that many potential investors in the developed world lacked knowledge on investment opportunities in central Africa.

In 2003, the group's president, Rod Marshall, attended a Rwanda investment conference in Boston, USA.

"We hope to transfer knowledge to the locals through an education programme so that they can take care of the businesses"

"The Rwandan economy is considered as a rapid growing economy. The country has been transformed from a rundown nightmare economy to a market-driven economy".

"Major economic reforms are nearly complete, the economy is booming in private sector hands and foreign investments are rising".

In the 2010 World Bank's Doing Business report, Rwanda was the world's top reformer, based on the number and impact of reforms implemented between June 2008 and May 2009.

It now takes an investor in Rwanda just three days to start a business. Imports and exports are more efficient, and transferring property takes less time thanks to a reorganized registry and statutory time limits.

According to the World Bank, investors have more protection, insolvency reorganization has been streamlined, and a wider range of assets can be used as collateral to access credit.

The key areas of reform considered by the report include starting a business, employing workers, getting credit (legal rights), protecting investors, registering property, closing a business and trading across borders.

Rwanda sees the Doing Business Report as a major tool that will attract investments to the country whose business environment is making significant strides.