Minister of Urban and Rural Development Erastus Uutoni says Namibia’s rich natural resources—including oil, green hydrogen and other energy assets—require effective management, regulation and strategic promotion to reach their full potential.
Speaking during the official opening of the Regional and Local Economic Development Policy Validation Workshop, Uutoni said many countries, particularly in Africa, have learnt this lesson the hard way, with poor oversight often hindering the expected economic benefits from such resources.
He said Namibia must avoid falling into the same trap.
“Even if oil, green hydrogen and other energy and natural resources are there in great abundance, as we know they are, they will not yield the dividends if we do not know, for example, how to promote, regulate and manage it, as many countries have discovered over the previous decades, particularly on our continent,” he said.
The Minister further explained that effective regulation also extends to the Namibian people.
He said the creativity and energy of Namibia’s youth are essential for building a modern, knowledge-based economy.
The Minister noted that it’s crucial to harness their potential, not view them as a problem, but as key contributors to economic innovation.
“How do we trickle down the newly found wealth to the masses? These are indeed crucial questions we should ask ourselves on a regular basis and come up with innovative ideas, strategies and solutions to solve some of the most pressing issues our country is facing, such as unemployment, inequality and poverty,” he said.
The workshop stressed the importance of local economic development in transforming Namibia’s regions.
With a renewed policy focusing on stimulating inclusive growth, it aligns Namibia’s development goals with Vision 2030, national development plans and the Sustainable Development Goals.
The aim is to unlock dormant economic opportunities in regions by empowering local councils and authorities to think creatively and take charge of their own future development.
Uutoni also said local economies are vital to addressing Namibia’s challenges through innovation from young people, improved infrastructure or vibrant local markets and amenities.
“This obviously also implies that regions and localities have to come up with innovative ideas for their own future development and to position themselves and harness the myriad of opportunities that are foreseen to come,” he said.
