Swakopmund:President Netumbo Nandi-Ndaitwah has called on Namibian businesses to invest in value addition, manufacturing, and emerging industries to accelerate economic diversification and create sustainable employment. Speaking at the official opening of the 10th Swakopmund International Trade Expo (SWAiTEX) on Friday, the president emphasized the need for Namibia to move beyond exporting raw materials and to build its capacity to produce, process, and compete in international markets.
According to NAMPA, President Nandi-Ndaitwah highlighted the importance of ensuring that the value generated from Namibia's natural resources translates into jobs, skills development, stronger enterprises, and improved livelihoods. She urged entrepreneurs to study the requirements of emerging industries, such as oil and gas, renewable energy, green hydrogen, and rare earth minerals, to prepare themselves for opportunities under the country's planned local content policy.
The president also underscored the National Trade Policy for 2023-2030, which prioritizes export diversification, market expansion, quality standards, trade facilitation, access to finance, and the competitiveness of micro, small, and medium enterprises. She encouraged exhibitors at SWAiTEX to secure customers, identify business partners, explore new markets, improve productivity, and collaborate with other enterprises to fulfill larger orders.
NCCI President Vetumbuavi Mungunda expressed the private sector's readiness to work with the government to strengthen Namibia's productive capacity and create an environment conducive to business expansion. He called for faster implementation of measures to improve access to finance, reduce regulatory barriers, and support local enterprises in major investment projects. Mungunda stressed the need for local businesses to be seen as active partners capable of supplying goods and services, creating employment, and contributing to industrial development.
With over 50 national and international exhibitors showcasing their products, SWAiTEX is being held under the theme "Powering Africa's Next Economy Innovation, Inclusion and Industrial Growth."