Launched in 2021, the MBRP is a strategic initiative designed to stimulate growth in the industrial and construction sectors. The program offers enticing benefits for investors, such as VAT exemptions on both locally produced construction materials and those imported but not available regionally.

For projects exceeding $10 million, this exemption expands to include import duties on unavailable local materials, contingent upon a detailed project evaluation.

The MBRP further supports the industrial transformation by exempting VAT on machinery and equipment manufactured within Rwanda.

It also extends tax incentives to both new and existing industrial construction projects, provided they meet certain investment thresholds. Notably, the program encourages the establishment of food and animal processing industries with a relatively low minimum investment requirement of $100,000.

During a recent parliamentary session, Prime Minister Dr. Edouard Ngirente underscored the pivotal role of the MBRP in facilitating Rwanda’s recovery from the economic repercussions of COVID-19.

He reported that the initiative has not only injected over $4.2 billion into the economy but also generated more than 21,400 jobs, with expectations of creating over 42,700 additional jobs. The program is a cornerstone in Rwanda’s strategy to mitigate the pandemic’s impact and to forge a robust industrial future for the nation.

Dr. Ngirente also highlighted the government’s proactive measures in response to the pandemic-induced decline in industrial production by accelerating the development of industrial zones.

This effort has led to the establishment of 219 new industries between 2019 and 2023, significantly enhancing the valuation of industrial production and exports.

This growth is a testament to the government’s resolve in driving industrial development, underpinned by the MBRP’s comprehensive tax incentives aimed at fostering expansion, innovation, and resilience within Rwanda’s economy.

The bird's eye view of Kigali Special Economic Zone.