Rwanda’s Vision 2050 aspires to elevate the nation to upper-middle-income status by 2035 and high-income status by 2050 by achieving sustainable economic growth and ensuring a high quality of life for all Rwandans. This long-term vision is implemented through a series of medium-term national development strategies, beginning with the National Strategy for Transformation 1 (NST1, 2017–2024), which marked a critical phase in the country’s development journey and served as a bridge between Vision 2020 and the start of Vision 2050.

As 2024 marked the final year of NST1, it laid the foundation for subsequent national transformation strategies aimed at achieving Vision 2050. NST2, which spans from 2024 to 2029, was designed to provide strategic direction for national development, with a central focus on improving the lives of Rwandans and ensuring sustainable economic growth.

Industrialisation is set to play a key role in driving the successful implementation of the Second National Strategy for Transformation (NST2).

Key NST2 Industrialisation Targets

Under NST2, Rwanda has set ambitious targets, including:

• Increasing industrial growth from 10.2% to 12.7%

• Increasing export growth from $3.5 billion to $7.3 billion

• Raising private investment from $2.2 billion to $4.6 billion

• Growing tourism revenue from $0.62 billion to $1.1 billion

• Expanding job creation from 214,000 to 250,000 jobs annually

Priority Investment Sectors

To accelerate industrialisation, Rwanda has identified key sectors for investment:

• Agro-Processing: Expansion in horticulture, tea, sugar, and agricultural value chains

• Light Manufacturing: Development of leather, textiles, pharmaceuticals, and emerging industries

• Heavy Manufacturing: Growth in automotive, steel, glass, and related industries

• Tradable Services: Strengthening tourism, global business services, and creative industries

Special Economic Zones and Industrial Parks

To support industrial growth, Rwanda has developed Special Economic Zones and industrial parks across the country. These zones provide investors with access to affordable land, modern infrastructure, and business-friendly policies. Key incentives include tax exemptions and duty remissions, fostering a competitive environment for both local and international markets.

By capitalising on its strategic location, investor-friendly policies, and expanding infrastructure, Rwanda is poised to become a leading force in regional trade and industrial development. The country’s industrialisation agenda will not only drive economic transformation but also create sustainable opportunities for businesses and investors.

Here is the link to access the NST2 booklet