Local entrepreneurs must expand: Pohamba

WINDHOEK: President Hifikepunye Pohamba said more should be done to encourage local entrepreneurs and investors to expand their manufacturing operations or to establish such operations in different sectors of the economy.

This should be done in order to refrain Namibia from exporting its raw materials to other countries.

The Head of State who officially opened the second Made in Namibia Expo in the capital on Wednesday said Namibia is endowed with abundant natural resources such as base metals materials, precious stones and agricultural products such as beef, game, marine products, cereals, fruits and vegetables.

Most of these products, he added are exported in their raw or semi-processed state to other countries where they are processed and made into finished consumer products.

He noted that: “ By exporting raw materials to other countries, the country is also exporting jobs and wealth to those countries.”

Pohamba said that manufacturing technologies are available in different parts of the world and therefore called on Namibians to establish smart partnerships with established companies around the world and bring them to Namibia to establish manufacturing ventures here at home.

Namibian companies should learn from other countries that have managed to industrialize their economies and increase the contribution of this vital sector to their Gross Domestic Products (GDPs), he said.

“I believe that our country has great potential to develop a successful manufacturing sector. Our well established physical and communication infrastructure can serve as a catalyst for increased manufacturing industries. Our roads, rail and ports can serve as conduits for the export of locally made goods,” Pohamba said.

He noted that Namibia continues to enjoy peace and stability, which are prerequisites for socio-economic development.

He explained that Namibia’s regulatory frameworks are functioning relatively well and are being strengthened through initiatives such as the establishment of the Business and Intellectual Property Authority (BIPA) by the Ministry of Trade and Industry.

BIPA serves as a one-stop center for the registration of companies, as well as the protection of business, commercial and industrial property rights.

He added that the government is also in the process of reviewing and modernizing the Foreign Investment Act in order to increase and strengthen Namibia’s competitiveness and therefore called on the private sector to take advantage of this conducive investment climate and contribute to the achievement of the goals of Vision 2030 through increased manufacturing and industrialization of the economy.

The Namibian Government, he said has also adopted the “Growth at Home Strategy”, to boost the growth of the local economy through increased local economic activities, such as manufacturing, value addition to local products, tourism and the expansion of the service sector.

Although there are challenges such as the economies of scale, Namibia should do more to reduce the import of some of the basic consumer goods that are used by Namibian consumers every day, he said.

The Made in Namibia expo which commenced yesterday, (Tuesday, 29 July 2014) until tomorrow (Thursday, 31 July 2014) is held under the theme: “ Growth at Home.”

This year there are over 250 exhibitors compared to 140 at the First Made in Namibia expo held in 2011.

(edited)WINDHOEK: President Hifikepunye Pohamba said more should be done to encourage local entrepreneurs and investors to expand their manufacturing operations, or to establish such operations in different sectors of the economy.

The Head of State said this should be done in order for Namibia to refrain from exporting its raw materials to other countries when he officially opened the second ‘Made in Namibia’ expo in the capital on Wednesday.

Namibia is endowed with abundant natural resources such as base metals, precious stones and agricultural products such as beef, game, marine products, cereals, fruit and vegetables.

Most of these products are exported in their raw or semi-processed state to other countries, where they are processed and made into finished consumer products.

“By exporting raw materials to other countries, the country is also exporting jobs and wealth to those countries,” stressed Pohamba.

Manufacturing technologies are available in different parts of the world, and the president, therefore, called on Namibians to establish smart partnerships with established companies around the world and bring them to establish manufacturing ventures here.

Namibian companies should also learn from other countries, which have managed to industrialise their economies and increased the contribution of this vital sector to their Gross Domestic Products (GDPs), he added.

“I believe that our country has great potential to develop a successful manufacturing sector.

Our well-established physical and communication infrastructure can serve as a catalyst for increased manufacturing industries. Our roads, rail and ports can serve as conduits for the export of locally-made goods,” Pohamba said.

Namibia continues to enjoy peace and stability, which are pre-requisites for socio-economic development.

The country’s regulatory frameworks are furthermore functioning relatively well, and are being strengthened through initiatives such as the establishment of the Business and Intellectual Property Authority (BIPA) by the Ministry of Trade and Industry.

BIPA serves as a one-stop centre for the registration of companies as well as the protection of business, commercial and industrial property rights.

The Namibian leader indicated that the government is also in the process of reviewing and modernising the Foreign Investment Act in order to increase and strengthen Namibia’s competitiveness.

He thus called on the private sector to take advantage of this conducive investment climate, and contribute to the achievement of the goals of Vision 2030 through increased manufacturing and the industrialisation of the economy.

The ‘Made in Namibia’ expo commenced at a local hotel on Tuesday this week under the theme “Growth at Home”.

It ends this Thursday.

There are over 250 exhibitors here, compared to 140 during the maiden edition in 2011.

SOURCE: NAMPA