PM outlines vision for industrialisation

PRIME Minister Nahas Angula has called for the State to promote a “developmental coalition” as the only way to increase economic growth and Namibia’s progress towards becoming an industrialised nation.

This coalition, he said, should comprise the public and private sectors, the labour market and knowledgeable workers. “If our visions and dreams are going to translate into reality, we must start to devise a long-term investment strategy, engage in strategic thinking and develop an innovative strategy,” Angula told the National Assembly during the Budget debate this week.He told the House that the Budget should be seen as a transitional arrangement in preparing the State to play its catalytic role in the development process.The over-arching strategy for economic growth, he said, was to move Namibia to the level of a developmental state.”The State must be re-tooled to see itself as an agent of development,” Angula said.Angula also proposed the development of a National Inclusive Economic Empowerment Framework to promote, finance and support indigenous business development.The framework, he said, would also aid in integrating the subsistence and informal economies into the mainstream formal economy.”The National Inclusive Economic Empowerment Framework should avoid the trappings of patronage, cronyism and culture of entitlement,” he warned.Angula said the Public Service’s role in the developmental coalition would be to support the state by providing efficient and effective service, while the Private sector would be expected to create wealth through innovation and business acumen.”Wealth creation in a country like ours should better be enhanced through inter-firm collaboration, networking and mutual support,” he said.Both the private and public sectors should develop alliances with that of labour to promote just and fair labour practices, productivity and industrial peace.In this way, Angula said, Namibia would enhance its competitiveness.However, he warned that the economy could only grow through investment and said all the country’s savings should be ploughed back into the country.He singled out the Development Bank and Agribank as two institutions having the crucial roles of investment promotion.”We have enough savings in this country to kick-start economic development and growth.Government should match private investment by allocating resources [to], for example, research and development, product incubation, kick-starting the innovation process, product marketing and communication infrastructure,” he said.”If our visions and dreams are going to translate into reality, we must start to devise a long-term investment strategy, engage in strategic thinking and develop an innovative strategy,” Angula told the National Assembly during the Budget debate this week.He told the House that the Budget should be seen as a transitional arrangement in preparing the State to play its catalytic role in the development process.The over-arching strategy for economic growth, he said, was to move Namibia to the level of a developmental state.”The State must be re-tooled to see itself as an agent of development,” Angula said.Angula also proposed the development of a National Inclusive Economic Empowerment Framework to promote, finance and support indigenous business development.The framework, he said, would also aid in integrating the subsistence and informal economies into the mainstream formal economy.”The National Inclusive Economic Empowerment Framework should avoid the trappings of patronage, cronyism and culture of entitlement,” he warned.Angula said the Public Service’s role in the developmental coalition would be to support the state by providing efficient and effective service, while the Private sector would be expected to create wealth through innovation and business acumen.”Wealth creation in a country like ours should better be enhanced through inter-firm collaboration, networking and mutual support,” he said.Both the private and public sectors should develop alliances with that of labour to promote just and fair labour practices, productivity and industrial peace.In this way, Angula said, Namibia would enhance its competitiveness.However, he warned that the economy could only grow through investment and said all the country’s savings should be ploughed back into the country.He singled out the Development Bank and Agribank as two institutions having the crucial roles of investment promotion.”We have enough savings in this country to kick-start economic development and growth.Government should match private investment by allocating resources [to], for example, research and development, product incubation, kick-starting the innovation process, product marketing and communication infrastructure,” he said.