The Manufacture and Build to Recover Program, established in 2020 following the Covid-19 pandemic, has officially been phased out.

"The Rwanda Development Board (RDB) reminds the business community and the general public that the Manufacture and Build to Recover program (MBRP) has been phased out," reads part of a public notice by RDB.

The Manufacture and Build to Recover program was aimed at boosting economic recovery efforts by attracting private sector investments in manufacturing, construction, agro-processing and real estate sectors. These sectors were selected given their high potential for increasing private investments, generating export revenues and creating productive jobs.

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The program helped reduce the set-up and operational costs for both new and existing companies while facilitating the expansion of small and medium industries.

In the public notice, RDB stated that limited tax incentives will remain in place for select beneficiaries approved during the 2023 calendar year until December 31, after which they will be discontinued. The incentives under the program consisted mainly of tax exemptions on imported construction materials not available in the East African Community, as well as on construction materials sourced domestically, and reduction of tax credits on export revenues.

For construction of either affordable houses, high-end or commercial complexes, projects were required to be valued at a minimum of $10 million.

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For firms setting up a new manufacturing industry/plant, the threshold was to invest at least $1 million and at least $100,000 for firms in the agro-processing sector.

The program had a threshold of 20 per cent of total investments or at least $1 million for existing and registered companies seeking to expand operations.

Data from RDB shows that over 100 projects joined the program with a total value of $1.9 billion as at 2023, with 35,000 jobs expected to be created from the projects. Last year, the government announced the extension of the program by two years to 2025.