Being a country without access to the sea, Rwanda is still one of the African countries under the poverty line as the report by the United Nations released annually shows. One of the main causes of this is based on the nation's uneffective use of its own resources. This essays examines the major causes of Rwanda's low economy and suggests possible solutions to tackle these challenges.
Every country across the world has got its own raw materials and it is up to these nations to utilize them in a way that improves the standards of living of its citizens. In a similar way, Rwanda has very rich minerals and basics for its development such as fertile soil favorable for agriculture, underground richness such as precious dtones and methane gas suitable for energy production which can be used in industries to manufacture different products indoor. However, the way this richness is exploited is very horrible. For instance, Rwanda still waits for the foreign aid to finance almost the quarter of its budget instead of investing in its natural wealth to boost the economy. This keeps the country always in the midst of least developped nations on the globe.
Many countries today have encountered similar issues like the Rwanda's but they managed to surmount them using different strategies and one, and may be, the most efficient one is the knowledge-based economy. A very clear example to this is South Korea, which had the similar status as that of Rwanda in the 1950's on the international scale. However, through the education system that emphasizes the solution oriented resarch and investment in technolgy in almost all their sectors, South Korea is one of the exemplary and powerful nation in terms of economy on the earth. Taking this as reference, Rwanda can implement such policies to improve its economy, thereby uplifting its citizens' quality of life.
The better usage of the natural resources is vital for any country wanting to develop like Rwanda. However, the utilization of this wealth must be innovative given the trends of the current world such as the knowlege based economy plan.
Being a
country
without access to the sea, Rwanda is
still
one of the African
countries
under the poverty line as the report by the United
Nations
released
annually
shows
. One of the main causes of this
is based
on the nation's
uneffective
use
of its
own
resources.
This
essays
examines
the major causes of Rwanda's low
economy
and suggests possible solutions to tackle these challenges.
Every
country
across the world has
got
its
own
raw materials and it is up to these
nations
to utilize them in a way that
improves
the standards of living of its citizens.
In a similar way
, Rwanda has
very
rich minerals and basics for its development such as fertile soil favorable for agriculture, underground richness such as precious
dtones
and methane gas suitable for energy production which can be
used
in industries to manufacture
different
products indoor.
However
, the way this richness
is exploited
is
very
horrible.
For instance
, Rwanda
still
waits for the foreign aid to finance almost the quarter of its budget
instead
of investing in its natural wealth to boost the
economy
. This
keeps
the
country
always in the midst of least
developped
nations
on the globe.
Many
countries
today
have encountered similar issues like the Rwanda's
but
they managed to surmount them using
different
strategies and one, and may be, the most efficient one is the knowledge-based
economy
. A
very
clear
example to this is South Korea, which had the similar status as that of Rwanda in the
1950's
on the international scale.
However
, through the education system that emphasizes the solution oriented
resarch
and investment in
technolgy
in almost all their sectors, South Korea is one of the exemplary and powerful
nation
in terms of
economy
on the earth. Taking this as reference, Rwanda can implement such policies to
improve
its
economy
, thereby uplifting its citizens' quality of life.
The better usage of the natural resources is vital for any
country
wanting to develop like Rwanda.
However
, the utilization of this wealth
must
be innovative
given
the trends of the
current
world such as the
knowlege
based
economy
plan.