Nam urged to craft winning economic formula

NAMIBIA has been called upon to work on its own winning productivity and competitiveness model in the face of globalisation.

The issue of productivity and competitiveness was the theme of this year’s annual general meeting of the Namibia Chamber of Commerce and Industry (NCCI) held in Windhoek on Saturday. The interlinking topics have been under discussion at various fora as business ponders how Namibia can enhance productivity and compete on the global market.Productivity emphasises the efficiency with which products are made and the measure of how money and labour are used to deliver, while competitiveness focuses on how products meet the test of national and international markets.At the meeting, Minister of Fisheries and Marine Resources, Dr Abraham Iyambo lamented what he termed the slow and weak pace at which these issues were being handled.Iyambo told the gathering that Government, the private sector and labour bodies should meet to take stock and propose new ideas on how to propel the national economy in the wake of globalisation.”Our industries and Government need fresh re-thinking on productivity and competitiveness, commensurate with the global prevailing intersecting realities.Without productivity and competitiveness, exporting industries lose revenue, denting balance of trade and income streams.”In this ever-changing business environment, industries must re-appraise their situation and not succumb to yesteryear, obsolete practices,” he said.Iyambo said globalisation came with opportunities and dangers.Namibia needed to adapt to and adopt the right strategies that would see the country competing globally as opposed to being left behind in “the sand of history”.”The twin evils, namely the awesome pace and merciless forces of the wave of globalisation do not discriminate between small and advanced economies, between developed and developing countries.”There should be no illusions.Productivity and competitiveness cannot be achieved overnight …However, I dare to suggest that we urgently craft Namibia’s own winning productivity and competitiveness model, and make it work,” said Iyambo.The Minister also said the public and private sectors should continue promoting local manufacturing and value addition to raw materials as this created the much needed employment.He said Namibia had to industrialise to avoid and urged businesspeople and policymakers to be part of this global development.Stating the hard cold facts, Iyambo said: “We should increase import substitution, ensure growth and reduce deficit.At the moment, we excel in the buying and selling of goods.We produce less.”We should industrialise to avoid becoming beggars.Without industrialisation and if the status quo remains, where the economic growth is at a tortoise speed, then we will not achieve our noble dreams of Vision 2030.”The interlinking topics have been under discussion at various fora as business ponders how Namibia can enhance productivity and compete on the global market.Productivity emphasises the efficiency with which products are made and the measure of how money and labour are used to deliver, while competitiveness focuses on how products meet the test of national and international markets.At the meeting, Minister of Fisheries and Marine Resources, Dr Abraham Iyambo lamented what he termed the slow and weak pace at which these issues were being handled.Iyambo told the gathering that Government, the private sector and labour bodies should meet to take stock and propose new ideas on how to propel the national economy in the wake of globalisation.”Our industries and Government need fresh re-thinking on productivity and competitiveness, commensurate with the global prevailing intersecting realities.Without productivity and competitiveness, exporting industries lose revenue, denting balance of trade and income streams.”In this ever-changing business environment, industries must re-appraise their situation and not succumb to yesteryear, obsolete practices,” he said.Iyambo said globalisation came with opportunities and dangers.Namibia needed to adapt to and adopt the right strategies that would see the country competing globally as opposed to being left behind in “the sand of history”.”The twin evils, namely the awesome pace and merciless forces of the wave of globalisation do not discriminate between small and advanced economies, between developed and developing countries.”There should be no illusions.Productivity and competitiveness cannot be achieved overnight …However, I dare to suggest that we urgently craft Namibia’s own winning productivity and competitiveness model, and make it work,” said Iyambo.The Minister also said the public and private sectors should continue promoting local manufacturing and value addition to raw materials as this created the much needed employment. He said Namibia had to industrialise to avoid and urged businesspeople and policymakers to be part of this global development.Stating the hard cold facts, Iyambo said: “We should increase import substitution, ensure growth and reduce deficit.At the moment, we excel in the buying and selling of goods.We produce less.”We should industrialise to avoid becoming beggars.Without industrialisation and if the status quo remains, where the economic growth is at a tortoise speed, then we will not achieve our noble dreams of Vision 2030.”