Vincent Munyeshyaka, the minister for trade and industry (R), chats with Fanfan Rwanyindo, the minister for public service and labour, during the celebration of African Industrialisation Day at Kigali Special Economic Zone, yesterday.
The Government is committed to working with private sector and other development partners to put industrial development at the forefront and increase the annual contribution of industry sector to the economy to 14 per cent, from the current 2 per cent.
The commitment was announced by Vincent Munyeshyaka, the minister for trade and tndustry, as the country joined the rest of the continent to celebrate the African Industrialisation Day at the Kigali Special Economic Zone, yesterday.
The minister said that while industrial development is a top priority the country’s development agenda, its contribution to national economy is still low, only at 2 per cent currently.
“We are targeting to reach an annual industrial growth of 14 per cent by 2020 from the current growth of only 2 per cent in 2016-17,” he said.
He also said that the government aims at achieving the contribution of industrial sector to the country’s GDP of 20 per cent by 2020, from 17.1 per cent in 2016-17.
“To achieve this actually requires strong partnership between the government, the private sector but also development partners, indeed, we all work for a common goal of transforming Rwandan economy into a modern and industrialised one,” he said.
Minister Munyeshyaka expressed optimism, stressing that the existing Public-Private Partnership legal framework would facilitate the development of both small and medium enterprises (SMEs) and big industries, hence real industrialisation of economy.