Kigali Marriott Hotel was officially inaugurated yesterday at a ceremony that saw the entry of the world’s largest hotel chain into the Rwandan market.
The development comes days after a World Bank report, published last week, commended Rwanda for its private sector-led growth strategy after it emerged as the reason behind the country’s sustainable growth.
The report, “African Pulse: An Analysis of Issues Shaping Africa’s Economic Future,” sought to understand what contributes to sustained growth in a landlocked, resource-poor economy.
The entry of Marriott is just an example of the many private sector-led milestones that have been registered over the last 2o years or so, thanks to a deliberate government strategy to attract investors and an environment that allows for the private sector to flourish.
The government has undertaken several measures to foster the growth of the private sector to improve the sector’s role in the economy and the results are there for everyone to see – as documented by several international reports.
There is no better time in the history of Rwanda to do business in the country. The incentives and opportunities presented to the private sector – both local and international – are enormous.
Indeed, it is not surprising that over the last two decades, the private sector has played a catalytic role in Rwanda’s economic growth. Rwanda is one of the best places to do business in the world.
As government undertakes more measures to foster private sector participation in the country’s key industries, such as tourism and manufacturing, more Rwandans should take advantage of the opportunity and venture into different businesses to help boost the Made-in-Rwanda campaign.
The private sector should look at enhancing investments and continue to be active through public-private dialogue, a framework through which the private sector is consulted by the government on national policies and strategies.
Businesses should continue to make the most of the ongoing structural reforms that are designed to further promote the private sector’s role in the country economic development.