STUNTED economic growth as well as changes and experiences the economy has gone through over the years are enough reasons for Namibia to create opportunities for the private sector.
These were the opening remarks of Charity Mwiya, the chief executive officer of the Namibian Chamber of Commerce and Industry (NCCI) at the launch of the 2019 Swakopmund International Trade Expo (Swaitex) in Windhoek on Wednesday.
She said the immense socio-economic challenges faced by the country call for the creation of opportunities for the private sector to expand and lead to greater economic inclusion, job creation and diversification.
According to the latest Namibian Statistics Agency report for April to June, the country's overall economic production has declined further by 2,6%.
This is attributed to the fact that the private sector has failed to fill the void left by the government cuts in expenditure, as the state has been driving the economy for years.
Mwiya stated that discussions around growth constraints in specific sectors, and deepening and strengthening regional trade relations to foster a new economic era, should be enhanced.
She added that opportunities which are sustainable and beneficial to the business sector, the government, and communities should be devised.
The 7th expo, themed 'Promoting Intra-Regional Trade and Economic Integration' will support and drive targeted discussions around key elements that will turn around the economic trajectory of the country, which should lead to positive movement in the economic environment, she noted.
The business leader announced that the NCCI had elevated the expo to an international level to provide the private sector the expansion opportunities it needs.
All this was agreed upon as the chamber managed to get more sponsors on board and various experts who are expected to add value to the vision of making the expo a premier international platform for business connection and growth opportunities.
“It is our responsibility to ensure that the outcomes identified during the economic summit do not fade into obscurity and become forgotten and for this reason, the chamber will present a series of business seminars that will run concurrently with the expo, targeting businesses from the private and public sectors, including public-private partnerships”, she stated.
The expo will be sponsored by ErongoRED, Standard Bank Namibia, First National Bank Namibia, Namport and the Municipality of Swakopmund.
Other sponsors are the Ohlthaver and List Group, the Development Bank of Namibia, Namibia Diamond Trading Company (NDTC), Namcor, the British high commission, USAID and Space Dimensions.
The expo will take place from 9- to 12 October at the Dome at Swakopmund.
SOURCE: The Namibian