Experts weigh in on need for more investment in human capital devt

The success of Rwanda’s strategies to attain its social economic development goals will depend on the country’s ability to sustain investment in human capital development. This was the consensus yesterday as officials from government, development partners as well as representatives from the private sector and civil society organisations began a joint three day retreat. Various experts who spoke emphasised the need for continued investment in human capital development as the country bids to free itself from poverty and meet targets contained its seven year national strategy for transformation among other development ambitions. Dr. Uzziel Ndagijimana, the Minister for Finance and Economic Planning said human capital will get a lot at the retreat. “We need to discuss, in detail, how to how to incorporate early childhood development in our plans if we are to achieve the transformation we are aspiring for,” he said. He applauded development partners for their role in the country’s economic development journey. “The progress that you see has benefited from your support,” he said According to Yasser El-Gammal, the World Bank Group Country Manager for Rwanda, stressed the need for increased investment in education and agriculture, which, he said, were sensitive sectors and yet still undeveloped. “Human capital development is extremely important because Rwanda has very high ambitions and when you look at the countries that were able to achieve their ambitions they had to invest in human capital, particularly in education,” he said. There is a lot that still needs to be done to enhance the capacity of the country’s workforce as well as be able to benefit from the technological advancement that is happening in the world today, he added. World Bank has a portfolio of $1 billion spread across various sectors of the country. El-Gammal said that there are various activities in the pipeline that the Bank plans to finance, the biggest investment expected to be committed in human capital development. “Agriculture is the back born of development. The next level the country needs to go into is the commercialisation of the sector, the introduction of new cash crops. This is happening in (some) parts of the country but not on enough scale, there is also need for adoption of new technologies and technics in agriculture,” he said The UN Resident Coordinator in Rwanda, Fodé Ndiaye said “…in order to achieve its aspiration of becoming a high income country by 2050, Rwanda will have to accelerate the growth of trade. This will require not only labour-intensive manufacturing, but also agribusiness, horticulture, and selected services.” “It will require involving private sector in decision making, increasing the capacity of local supply chains, and a coordinated trade policy. We still need a very good human capital, women, and youth, promoting education…we also need conducive environment and strong institutions with working systems,” he said According to the filth Integrated Household Living Conditions Survey (EICV5), poverty levels dropped by one percentage point from 39.1 per cent in the 2013/14 fiscal year to 38.2 per cent in 2016/17. Other topics to be discussed include well managed urbanisation, capable and accountable institutions and modern agriculture, according to minister Ndagijimana. The 15th retreat which kicked off on Wednesday by tour visit on irrigation scheme and rice plantation in Ntende valley and East African granite Industries in Gatsibo and Nyagatere districts respectively was organised under Theme: Partnerships for Rwanda’s Transformation. editorial@newtimes.co.rw

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Experts weigh in on need for more investment in human capital devt