Enhancing the Quality of Industrial Policy in Rwanda is the title of a new initiative that will run for the next two years and was initiated by the Rwandan government in collaboration with the African Development Bank (AfDB) and its Fund for African Private Sector Assistance (FAPA) (EQuIP project).
The purpose of the project, which has a budget of 550,000 US Dollars, is to increase the staff capacity of institutions that fall under the purview of the Private Sector Development and Youth Employment (PSDYE) sector. These institutions include the Rwanda Development Board, the Ministry of Trade and Industry, and the private sector.
The end goal is to establish a local capability that can independently plan, implement, and assess the impact of associated industrial policies with minimal or no reliance on expertise from outside sources.
It is anticipated that the project will improve the analytical capabilities of beneficiaries, increase public-private coordination in order to enhance the quality of industrial and private sector-oriented policies, and build the capacity of both the government and the private sector to implement, monitor, and evaluate industrial development strategies and policies.
The project aligns with Rwanda’s ambition to achieve upper-middle-income status by 2035. The underlying economic goals of the industrial policy include creating over 200,000 jobs annually to promote development, positioning Rwanda as a globally competitive knowledge-based economy, promoting industrialization, and shifting the export base to high-value goods and services.
These goals require an equally bold strategy to boost inclusive growth that further generates jobs and improves welfare for the Rwandan people. This project will contribute to more inclusive and sustainable economic growth in Rwanda through more effective implementation of industrial policy interventions that stimulate private sector growth.
Commenting on the project, Hon. Minister of Trade and Industry Beata Habyarimana said: “This project comes at the right time when we are currently reviewing the 2011 industrial policy. The support to strengthen our capacities to effectively implement and monitor the effectiveness of industrialization strategies through a series of Enhancing the Quality of Industrial Policies (EQuIP) technical assistance and capacity development training is of paramount importance.”
Rwanda Development Board Chief Skills Officer, Elodie Rusera, said: “We welcome the support by the Government of Japan through the African Development Bank. We hope that the project will make policy processes more effective, independent, and sustainable.”
Aissa Toure Sarr, Country Manager, African Development Bank, said: “The project has been designed to support and stimulate private sector growth, contributing towards a more inclusive and sustainable economic growth in Rwanda. It also aligns with the bank’s industrial Africa strategy. We are committed to providing policy advice and technical assistance to the Government through the program.”
Masahiro Imai, Ambassador of Japan to Rwanda, said: “I would like to commend the efforts by the Government of Rwanda in stimulating the economy with an excellent openness and transparency vis a vis private and foreign investors and financiers. We hope that the project will contribute to and play a leading role in achieving sustainable and inclusive development of Rwanda.”