Namibia should be industrialised economy by 2030: Schlettwein

18 Feb 2015 14:20pm
WINDHOEK, 18 FEB (NAMPA) - Namibia should internalise the positive experiences of the best industrialised countries in the world, and itself become an industrialised nation by the year 2030.
This was the view of Trade and Industry Minister Calle Schlettwein during discussions on Namibia's Industrial Policy Implementation Strategy in the National Assembly (NA) here on Tuesday.
“In order to achieve this ambitious but realistic target, Namibians must make a significant advancement in boosting the development of the country's manufacturing sector within a holistic and inclusive growth of the whole economy,” he stated.
Schlettwein said the tertiary and secondary sectors are important drivers for modern economies, and Namibia should develop its service industries like banking, telecommunications, logistics, higher education, retail and tourism.
The tertiary sector also includes industries like real estate and business services; transport and communications; wholesale and retail; financial intermediation; hotels and restaurants.
The secondary sector comprises construction, electricity, water and manufacturing, while the primary sector produces resources in an unprocessed format, and includes agriculture, mining and fishing products.
This development, the minister said, can be achieved by creating forward and backward linkages from the extractive industries into the rest of the economy, exploiting the existing and exploring new opportunities for the expansion of the manufacturing sectors like fish, meat and agro-processing, where comparative advantages already exist.
“This can also be done by entering into entirely new but promising market niches, and creating industries where we have good potential to succeed.
All these efforts should jointly contribute to the structural transformation of the Namibian economy by diverting economic activities from low productivity to higher efficiency and productivity sectors, and repositioning our country,” he added.
In such a resource-abundant economy, however, the growth of the service sectors should be closely linked to value-addition in the extractive industries and the development of the manufacturing sector.
“While there have been notable investments in manufacturing and other non-primary sectors in Namibia over the past years, the growth of our economy is still predominantly primary sector-driven, and our industrial base is still narrow,” Schlettwein said.