Rwanda and Cambodia move to strengthen investment links through RDB-CDC agreement

The commitment is contained in a memorandum of understanding signed between the Rwanda Development Board (RDB) and Cambodia’s Council for the Development of Cambodia (CDC), one of three cooperation documents exchanged during President Paul Kagame’s state visit to Phnom Penh.

Cambodian Prime Minister Hun Manet and Kagame witnessed the exchange of the agreements at the Peace Palace on Friday, November 13, following talks on expanding economic cooperation.

The RDB-CDC memorandum focuses on investment promotion and development cooperation, providing an institutional framework for the two agencies to work together.

The two leaders also discussed how their countries could use their positions in different regions to create opportunities for businesses. Rwanda could provide Cambodian companies with access to African markets, while Cambodia could offer Rwandan businesses a route into Southeast Asia and wider Asian markets.

The investment memorandum was accompanied by agreements on tourism cooperation and air transport services.

The tourism memorandum, signed by Cambodia’s Tourism Minister Huot Hak and Rwanda’s Foreign Minister Olivier Nduhungirehe, establishes a framework for cooperation based on mutual benefit. It provides for closer institutional engagement, exchanges of experience, tourism product development and joint promotion.

The Air Services Agreement provides a framework for cooperation in aviation between the two countries. However, the signing did not include an announcement of direct flights between Kigali and Phnom Penh.

The agreements follow earlier efforts to develop commercial relations. In September 2026, representatives of the private sectors in Rwanda and Cambodia began discussions on possible trade and investment opportunities.

The two governments have also been working to strengthen diplomatic engagement. Their November 2025 agreements established a consultation mechanism between their foreign ministries and facilitated travel for holders of diplomatic and official passports.

Rwanda and Cambodia established diplomatic relations in 2009, according to Rwanda’s diplomatic mission accredited to Cambodia.

The latest agreements provide a basis for expanding cooperation, but the extent to which they generate new investment, business partnerships and tourism exchanges will depend on their implementation by the relevant institutions and private-sector players.