It was revealed by Prime Minister, Dr. Edouard Ngirente On December 2, 2022 appearing before both chambers of parliament where he reiterated the government’s commitment to continue promoting investment and trade with emphasis on exports’ promotion.
In response to the economic slowdown caused by Covid-19, various programs have been established, including a recovery fund.
The government injected more than Rwf350 billion in the fund in two phases.
The money was utilized to support various businesses affected by the Covid-19 in the first phase.
These businesses range from hotels, education, transportation, manufacturing and agriculture and others.
In the second phase, the program is ongoing where more than Rwf35 billion Rwandan francs have been disbursed.
These funds are intended to help the private sector continue to recover from the effects of Covid-19 and expand investment.
In December 2020, the Government of Rwanda established a program to support the growth and recovery of the manufacturing sector dubbed ‘Manufacture and Build to Recover Program’.
It aims to facilitate investors by reducing the cost to run factories and large-scale construction projects.
The program also seeks to support the expansion of existing manufacturers in order to be self-sufficient and tackle trade deficits.
Prime Minister Dr. Ngirente said that this program which focuses on increasing investment in the manufacturing and construction has attracted 97 projects valued at Rwf1.7 billion. It is expected to give a boost to Made in Rwanda.
Approved projects include 31 are in the construction sector, 39 in the manufacturing sector while 27 are in the agro-processing sector.
These projects range factories that produce tiles, refined cooking oil, milk powder and others that manufacture technological equipment and medical equipment.