KIGALI - Various experts on economy converged in Kigali yesterday to discuss the sustainability of Rwanda’s rapid economic growth.
The Director of the Centre for the Study of African Economies at Oxford University, Prof Paul Collier, noted that Rwanda’s economy is moving in the right direction, and this has put the country on track to achieve the Millennium Development Goals (MDGs).
Collier said that Rwanda’s leadership is committed towards the development of the country compared to many in the continent.
“Rwanda’s economy has amazingly done well in Africa despite historical political instabilities and other factors like being land locked. There are African countries with natural resources but which have failed to develop their economies,” Collier said.
He pointed out that one does not necessarily need to have natural resources to develop.
“What is required is having better policies in place and committed institutions that will attract investors to spur the country to development.”
The forum was organized by the International Growth Centre, a joint venture of Oxford University and the London School of Economics which provides independent research based policy analysis to selected low income countries at the request of their governments.
Professor Manasseh Nshuti, the Executive Chairman of Cristal Ventures, noted that Rwandans should be characterized by patriotism, which he said, will help them focus on developmental activities.
“Nationalism is needed in our country. China and Singapore have developed economically due to their people’s love for their countries. We need not to look at what the country can give us, but rather what we can offer towards its development,” Nshuti said.
The forum was opened by Finance Minister John Rwangombwa.