SWAKOPMUND - The Municipality of Swakopmund is in the process of finalising its Local Economic Development (LED) strategy, in its quest to continuously strengthen its economy. This was revealed by the mayor of the town Paulina Nashilundo during the annual council meeting that took place last week in Swakopmund.
She says council is aware of the various challenges facing the community of Swakopmund, hence council wants to look at initiatives that can maximise business opportunities and activities at the town.
“Swakopmund like many other towns also faces challenges such as the high prevalence of unemployment, limited diversification of the economy due to the dependency on tourism only,” she explained.
She said the increase of business activities in neighbouring towns as well as the lack of local and foreign investors are also some of the challenges the town faces and wants to address through the LED strategy.
According to Nashilundo, the LED Strategy thus aims to contribute to the elimination or reduction of these challenges.
She explained that an investment profile has already been crafted to promote Swakopmund as an investment hub for local and international investors.
“The purpose of the investment profile is to attract and retain local and economic investors in Swakopmund. As council, our vision is to promote the town of Swakopmund in ways that will benefit its community at large,” she said.