RDB seeks transformative ideas to realize Vision 2050

The Rwanda Development Board (RDB) is gearing up for the second edition of the Rwanda Private Sector-led Transformation Programme (RPTP), a groundbreaking initiative aimed at fostering economic growth through a robust collaboration between the public and private sector. With the deadline for project submissions set for 1st March 2024, the RPTP is poised to usher in a new era of unprecedented developments in Rwanda. CNBC Africa's Flora Limukii recently sat down with RDB CEO, Francis Gatare at the Public-Private Sector Forum to delve into the key themes and objectives of this transformative program. Gatare emphasized the critical role of partnership between the public and private sectors in driving Rwanda's long-term development. He stressed the necessity of significant private investments, with an average annual economic growth rate of 10% essential to achieve Rwanda's ambitious 2050 vision. Gatare outlined key sectors such as manufacturing, agriculture, energy, infrastructure, and technology-driven industries as focal points for potential groundbreaking projects. He challenged private sector leaders to think big and innovate, emphasizing the need for scalable initiatives that can generate substantial impact and propel Rwanda towards its 2050 goals. The second edition of the Public-Private Sector Forum signifies a pivotal moment for the Rwandan economy. Gatare revealed that the government aims to triple the country's GDP every three years, a bold objective that necessitates a concerted effort between the public and private sectors. He underscored the importance of collaborative dialogues to identify growth opportunities, scale projects, and enhance operational efficiency. Success stories from past collaborations between the private sector and the government, particularly in the realm of economic recovery post-COVID-19, serve as testament to the power of partnership in driving Rwanda's economic agenda forward. Highlighting Rwanda's appeal to investors, Gatare pointed to several key factors that position the country as an attractive investment destination. The consistent economic growth of 7 to 8 percent over the past two decades, coupled with a favorable business environment and supportive government policies, offer compelling propositions for businesses seeking growth opportunities. Rwanda's competitive market, skilled labor force, and strategic location as a gateway to serve regional and global markets further enhance its allure for investors. Moreover, the ease of access to Rwanda through efficient transportation and entry procedures simplifies the process for foreign investors. Gatare's message is clear - Rwanda stands out among its peers as the premier destination for private sector investment, offering a dynamic landscape ripe with potential for growth and innovation. As the RPTP unfolds, all eyes are on Rwanda as it embarks on a journey towards realizing its transformative Vision 2050.