Rwanda’s “Vision 2050” aims for upper-middle-income status by 2035 and high-income status by 2050. These long-term income-based goals are in support of their primary development goal, economic growth.
An internal multi-disciplinary approach is required to achieve these results in amidst extremely tough worldwide competition to reap the rewards on potential offer. To get the status of an upper-middle-income country by 2035, Rwanda’s growth rate will need to surpass 10% per capita. If executed well, this could have the same or better economic landscape of present-day Georgia or Indonesia. Since the 1994 genocide the country as seen its average income rise by a factor of 3.5 which is a great indication of things to come but will require a complex and demanding level of sustainability in order to reach Vision 2050. That being said, economic growth is not solely linked to income levels. Growth is linked to a broad range of other outcomes such as inequality, public service delivery, sustainability and other important outcomes.
Value to the UAE Government
The UAE government has consistently sustained an efficient growth rate. It will be very interesting to see how a country like Rwanda achieves their goals since they have a different set of challenges. Lessons from their perusal of “Vision 2050” will be important to monitor especially their growth strategies that are not necessarily linked to income. Possible partnerships and business opportunities with the UAE also go hand in hand with their economic growth potentially improving vastly over the next 3 decades.