12 Oct 2017 17:40pm
WINDHOEK, 12 OCT (NAMPA) - The Namibia Chamber of Commerce and Industry (NCCI) has called on businesses to embrace value addition in their trading activities as part of their contribution to the industrialisation of Namibia.
NCCI President Sven Thieme said in a media statement on Thursday value addition is a critical element in the countrys quest for Vision 2030, which places huge emphasis on achieving an industrialised Namibia.
He said value addition will be achieved by strengthening the local and national value chains, and even regional value chains by creating efficient linkages to the countrys raw materials.
The key point is to make the most of available natural resources and to add as much as possible value to raw materials before they are exported, he said.
Thieme noted that the export of raw materials without having added value to such products is denying the local economy an opportunity to grow through such products.
We stand behind the Growth at Home narrative which basically says that whatever raw materials Namibia has, whether minerals; agricultural commodities or any other commodity, local value addition should take place before it is exported, he said, adding that exporting products in their raw form equates to exporting job opportunities.
Central to value addition is the manufacturing sector, the NCCI president noted.
He said manufacturing drives productivity and structural change, moving the economy from low to high productivity activities, and is globally the main driver of innovation.
Virtually all cases of rapid and sustained economic growth in modern economic development have been associated with value-addition and particularly growth in manufacturing production, Thieme said.
The NCCI as such called on Government to do more to advance the countrys economy by attracting foreign direct investment, and by formulating workable policies.
We hope that the policy momentum of Government will be sufficient to realise the beneficiation idea and diversify the economy from an over-reliance on commodities towards industrial sectors with stronger economic links, sustainable growth and job creation potential, the institution said.