Economic summit gains must be consolidated

EFFORT to resuscitate the economy by the High Level Panel on the economy through an investment summit this week sends a clear message to the international community that Namibia is open for business and stands ready for constructive partnerships.

The narrative that our country is an economically viable investment destination that this summit hinged on is one that has the capacity to help address our evident issues of poverty and unemployment that are beginning to firmly impose themselves in our society.

Under the theme “Economic revival for inclusive growth – strengthening the Namibian House” the summit provided a catalytic role critical for government and the private sector to forge partnerships for prosperity and inclusive growth for all Namibians.

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As summit organisers promised weeks ago, this summit has further played a vital role in the national attempt to restore business confidence, providing much needed policy clarity that has given investors better judgement of their potential investment risk or lack of it.

It is not clear today whether the US billion set by the High Level Panel as the investment envisaged over the next 24 months will be achieved or not, but the certain reality is that the intent to solve our economic impasse is there and actively being resolved by the authorities.

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Delegates will attest to the fact that the summit has further exposed domestic and international business to our unique investment case, and portfolio of investment projects in several sectors by showcasing Namibia’s unique features, strengths, competitiveness, and attractiveness as investment destination and trade partner.

Going forward, it is our view that government through its investment avenues must continue to engage investors and continuously work towards political and economic reforms, strengthening the credibility of public institutions and unlocking industry potential through innovative measures that allow for positive engagement and dialogue.

This is also because our country cannot continue on a path where only a very few enjoy the economic fruits of our democracy.

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Namibia is alive with opportunities and therefore we must now and forever create an enabling environment that will yield jobs for all our people and lead us onto a path of prosperity.

It is time that government is more determined to put behind us the period of economic meltdown‚ and embrace a future of cooperation and partnership with willing investors.

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This should be laced with a determination to build a country that is driven by innovation and entrepreneurship‚ to develop an economy that is diverse and resilient creating companies that achieve sustained returns not only for their shareholders but also for the workers that drive them and the communities that support them.

The economic summit has set the ball rolling towards economic recovery and it is now up to us to consolidate the opportunities that have arisen and further take the criticisms presented by our visitors on advice so that we are able to better our systems and processes to help unlock investments further to what we have already confirmed.