• October 1st, 2020

Opinion - The need for economic reform in Namibia

Namibia is a country that is rich in natural resources. These resources are mainly, agriculture, mining, fishing, tourism, solar and wind energy.
Traveling across Namibia from the north to the south, crossing the savannahs and the desert, you will instantly see how much potential Namibia has to offer to the world and the enormous amount of wealth it can generate through all this by attracting the right kind of investment into the country.

Through economic reforms, this can be a dream come true for many Namibia  entrepreneurs who want to venture in different kinds of business activities.
Economic reforms will mean reduced barriers of entry to open up and start a new business. More protection is allowed towards local businesses, lower
tariffs when trading within the SADC borders. Currently, the cost of doing business in Namibia is very high. This is because half of the commodities are
imported from other nations. We are not self-sufficient yet, thus we need economic reforms that guide and lead the business environment toward
self- sufficient. This will mean, that Namibian companies have their own rights and patterns for production and designs. Secondly, we produce and manufacture half if not all the products which are produced and consumed in Namibia. Government allows more favourable investment conditions on foreign investment that 
allows entrepreneurs to spearhead trade negotiations and profit sharing ratio. This will attract more investment into the country and indeed will upscale the workforce in the private sector. Currently, the government is the largest employer with the private sector stringing if no urgent intervention is
put in place. In terms of manufacturing and production, almost everything is imported from other nations, if we export goods or products, it is either raw
or semi finish. The Namibian graduates especially the young professionals are starving to do business and plough back to their communities, while
simultaneously adding value to the economy.

Staff Reporter
2020-09-04 11:39:30 | 26 days ago

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