The Hon. Minister of State in charge of Economic Planning Dr. Uzziel Ndagijimana has underscored the importance of Public Private Partnerships (PPPs) as an opportunity to fill investment gaps that arise due to lack of enough resources to finance public investments especially in developing countries.
Minister Ndagijimana was on a 3 day working trip to South Korea last week where he attended the Korea-Africa Forum for Economic Cooperation (KOAFEC) Ministerial Conference.
The 2016 KOAFEC Ministerial Conference theme focused on “Transforming Africa’s Agriculture through Industrialization and Inclusive Finance,” as well as Public Private Partnership (PPP).
Discussing the importance of Public Private Partnerships (PPPs) in fast tracking development, Minister Ndagijimana noted that most public investments are usually costly and may not be financially viable to attract the private sector, which requires government to participate. He added that even when the government has resources, it may lack technical capacity to execute and operate them efficiently.
“One of the objectives of Rwanda’s Vision 2020 is to develop a Private Sector led economy. It is in this context that Rwanda has done significant reforms to improve its business environment and to ease doing business for the private sector alone or in partnership with the Government,” Minister Ndagijimana said.
Some of the areas ripe for PPP investment model include Nyabarongo II Hydropower generation, Mutobo water supply project, Rwanda International Trade Fairs and Exhibition Park, Muvumba Multipurpose dam among others. Currently several projects are being implemented under the PPPs arrangement in ICT, energy, water, transport and agro-processing sectors.
KOAFEC has made significant progress in African Countries in areas of human resource development, information communication technology (ICT), agriculture, infrastructure, green growth partnership and knowledge sharing on Korea’s economic development experiences.
The KOAFEC Ministerial Conference this year brought together Ministers and delegations from all over Africa and Korea, representing governmental organizations, the private sector, academia, and the media.
Established jointly by South Korea’s Ministry of Strategy and Finance, the African Development Bank Group (AfDB) and the Export-Import Bank of Korea in 2006, KOAFEC has served as a comprehensive platform for promoting mutually beneficial partnership between Korea and Africa.