Page 10 - JCCI Business Focus Vol.1.3

DRIVING ECONOMIC GROWTH IN NAMIBIA

igh Commissioner phases of five-year medium term
for the Republic of National Developments Plans
HNamibia Ambassador of which the fifth was launched
Veiccoh K Nghiwete presented on the 31 May 2017 by H.E.
on the business opportunities President Hage Geingob. The
available in Namibia at the JCCI fifth National Development Plan,
Conference on the 8 August 2017. (NDP5), is built on four pillars
namely economic progression,
South Africa and Namibia social transformation,
enjoy excellent bilateral relations environmental sustainability and
and a number of successful good governance. Each pillar has
initiatives have been undertaken sub-pillars and specific goals to
by the High Commission and the be achieved by 2022.
Gauteng Provincial Government
with regard to trade and Important growth sectors
investment promotion over the identified to drive Namibia’s
past two years. economic growth include
agriculture and agro-processing,
Nghiwete said, “We must manufacturing, physical Windhoek is the capital and largest city of the Republic of Namibia
capitalise on the prevailing vibrant infrastructure, mineral
momentum to ensure profitable beneficiation, logistics and employment that can potentially ■ Mixed use property benefits to many of our African
partnerships that would give transport, tourism, education generate even more jobs. development countries. In other words, there
impetus to the sustainable growth and skills development, ICT, should be a conduit to slow down
A number of specific investment
of our economies.” research and innovation and projects are available for joint- ■ Expansion of hotels and lodges migration from neighbouring
The long-term vision of the optimisation of the ocean venture partnerships. These Other areas that can be countries and beyond as new
industries in their own countries
Namibian Government is to economy. Another pertinent include: explored for investment will boost the overall output
be an industrialised country sector that is at the centre of the opportunities are artisan of economies and create much
developed by its skilled human Namibian developmental agenda ■ Namibian hardwood processing training, off-road automotive needed jobs.”
resources by the year 2030. To is enterprise development, into charcoal and energy component manufacturing and
achieve this long-term goal particularly at micro, small ■ Bitumen manufacturing scrap metal beneficiation. Nghiwete welcomed the launch
Vision 2030 was launched in 2004 and medium level. The country ■ Crop production Namibia is the fourth largest of the Trade Invest Africa in July
by founding President H.E. Sam strives to change youth 2016 by the Department of Trade
Nuyoma and is implemented in unemployment into self- ■ Animal feed and feedlots export destination for South and Industry. The initiative aims
African goods. South African to mobilise and support South
exported goods to the value of African companies to invest in
over R59 billion to Namibia and industries in the rest of Africa.
imported R11 billion worth of He said, “This is an initiative by
goods from Namibia in 2016. The the South African government
trade, which is in favour of South to lead from the front as the
Africa, presents an opportunity most industrial economy on our
for South African companies continent.” Financing support is
to leverage on the current 70% available through the Industrial
manufactured goods market Development Corporation and
share in Namibia. other debt and capital financiers
Companies are encouraged that are actively engaging
to uses available incentives and project promoters on the Africa
government policies to pursue continent.
an agenda of industrialisation He concluded that it was
or explore manufacturing important to contribute to the
opportunities where such projects socio-economic transformation
are feasible and viable.
and inclusive economic growth
Nghiwete said, “This will indeed of our countries, and our
bring about enormous economic continent at large. 

High Commissioner for the Republic of Namibia Ambassador Veiccoh K. Nghiwete

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