Secretary to Cabinet, George Simataa has said that there is a need to modernise the Namibian economy, saying that the local economy cannot continue to be dependent on the mining industry.
“Every country in the world wants to modernise, as there are serious implications for not embracing modernisation. Namibia cannot remain at its current level of economic development with little heavy industry and an economy focused on mining only.
“Going forward, we will need to work together with transnational corporations by reducing exports of our raw materials and encouraging local value addition and beneficiation.
“Therefore, modernising the Namibian economy in the mining sector, for example, could be extremely beneficial for richer economies, such as those in Europe and Asia,” Simataa said.
He said this in a statement that he delivered on Thursday during the First Global South Think-Tank Dialogue held in Xiamen, China.
He said Namibia has the potential to become a manufacturing hub, with large quantities of land suitable for manufacturing and some transport infrastructure already in place, including the Port of Walvis Bay.
“Namibia has the potential to be a productive powerhouse. For example, the Namibian Government is looking into developing a new, clean, green economy in the Namib Desert. Namibia is increasingly demonstrating strong leadership in the development of green hydrogen as an engine of economic growth and also as a solution in the global decarbonisation agenda and the fight against climate change,” he said.
However, Simataa has warned that these developments would not be met in the absence of an educated and skilled workforce.
“Developing nations need to redouble their investments in education. Better and appropriate education will not only reduce population growth through knowledge of birth control, combating the predicted doubling in the population in the future, but will also enable people to get better jobs and create a multiplier effect,” he said.
Source: Namibian Press Agency