'Improve the climate'
Namibia is not attractive enough to entice investors to seek opportunity in the manufacturing sector, according to NCCI CEO Tarah Shaanika.
For industrialisation to take place in Namibia, the country's investment climate needs to become attractive to the manufacturing industry, the Namibia Chamber of Commerce and Industry CEO Tarah Shaanika has said.
In a statement given to Nampa on Tuesday after it was delivered at the Nkurenkuru Expo 2017 fundraising dinner on Saturday, Shaanika said that the Kavango town has a lot of potential.
“The region of Kavango West, where Nkurenkuru is located, has enormous agricultural and timber potential, which is hugely untapped. These sectors can be the sound backbone for industrialisation,” he said.
The theme for the first-ever Nkurenkuru Expo is 'Transforming Nkurenkuru into an industrial and tourism hub'.
Shaanika said businesses should be invited to the expo in a large number for them to see what the region has to offer.
He noted the potential for an agricultural and timber industry, coupled with the human resources available in this region, saying industrialisation here could also include food processing, timber product manufacturing, leather products and many others.
“This town can indeed become an industrial hub and be one of the leading centres for industrialisation in Namibia.”
Shaanika said Namibia is however not competitive enough to attract investments in manufacturing and must work on creating a more attractive investment atmosphere by firstly reducing the cost of land significantly.
He said duties on imports that are components of manufacturing should also be significantly reduced, while the cost of capital must also be lowered to make Namibia more competitive with other countries.
The cost of manufacturing, he said, by nature requires heavy investment but the more Namibia examines and works towards reducing the cost of land, utilities, labour, financing and other inputs the more feasible manufacturing will become.
“We cannot dream of industrialising the economy without creating a compelling manufacturing environment where investors will feel that Namibia is a better place to manufacture products in comparison with other competing places.”
The Nkurenkuru Expo will take place from 28 June until 02 July 2017.
The fundraising dinner raised N$329 000.
NAMPA
In a statement given to Nampa on Tuesday after it was delivered at the Nkurenkuru Expo 2017 fundraising dinner on Saturday, Shaanika said that the Kavango town has a lot of potential.
“The region of Kavango West, where Nkurenkuru is located, has enormous agricultural and timber potential, which is hugely untapped. These sectors can be the sound backbone for industrialisation,” he said.
The theme for the first-ever Nkurenkuru Expo is 'Transforming Nkurenkuru into an industrial and tourism hub'.
Shaanika said businesses should be invited to the expo in a large number for them to see what the region has to offer.
He noted the potential for an agricultural and timber industry, coupled with the human resources available in this region, saying industrialisation here could also include food processing, timber product manufacturing, leather products and many others.
“This town can indeed become an industrial hub and be one of the leading centres for industrialisation in Namibia.”
Shaanika said Namibia is however not competitive enough to attract investments in manufacturing and must work on creating a more attractive investment atmosphere by firstly reducing the cost of land significantly.
He said duties on imports that are components of manufacturing should also be significantly reduced, while the cost of capital must also be lowered to make Namibia more competitive with other countries.
The cost of manufacturing, he said, by nature requires heavy investment but the more Namibia examines and works towards reducing the cost of land, utilities, labour, financing and other inputs the more feasible manufacturing will become.
“We cannot dream of industrialising the economy without creating a compelling manufacturing environment where investors will feel that Namibia is a better place to manufacture products in comparison with other competing places.”
The Nkurenkuru Expo will take place from 28 June until 02 July 2017.
The fundraising dinner raised N$329 000.
NAMPA
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