April 19, 2024
Economy

NCCI calls for additional PPPs to revive economy

May 16, 2023
NCCI calls for additional PPPs to revive economy

The Namibia Chamber of Commerce and Industry (NCCI) has called for the promotion of public-private partnerships (PPPs) to shore up the local economy.

The Chamber’s President Bisey Uirab emphasised the importance of innovation and diversification for businesses to withstand future shocks and capitalise on emerging opportunities.

“We are all aware that the responsibility to lead the revival of our economy…has been placed on the shoulders of the private sector,” Uirab said. 

“That is why it is so important that we must come together as the private sector to bring positive change and improvement in our economy in order to make the business community efficient, effective and profitable. 

The NCCI recently held its National Corporate Forum, under the theme of “Harnessing the Power of Business to Advocate for Local Economic Growth”.

The event, which took place on 15 May 2023 in Windhoek, brought together corporate executives, industry leaders, and invited guests to discuss strategies for revitalising the Namibian economy in the aftermath of the Covid-19 pandemic and the recession that followed.

Uirab explained that the National Corporate Forum is not only a networking opportunity for corporate executives, but also a platform for guiding the NCCI’s advocacy agenda and supporting its activities.

“Our collaboration should allow businesses to play a bigger role in the implementation of our country's strategic economic plans,” he said 

One key strategy for economic revitalisation that Uirab discussed was the need for increased public-private partnerships.

“We must use this moment to revive our economy by adopting more public-private partnerships, a model that is capable of building an inclusive economy, thus protecting the marginalised by creating jobs across the country,” he said. 

The NCCI President said innovation is key for business survival.

“…we must think about the new waves of opportunities and our ability to survive future shocks. New markets for Namibian made products and services, diversification of our economic base,” he said.

Uirab identified strengthening of Namibia’s regional economic integration, through improving trade facilitation, building strategies for digital commerce, and promoting regional commodities as another priority.

“Given our small domestic market, global connectivity is equally essential for the growth of our businesses,” he said.

Uirab called for concerted efforts and collaboration between the public and private sectors, as well as between local and national levels, to achieve sustainable economic growth.

“Concerted efforts and raising the level of collaboration and coordination at both local and national levels with the private sector is important to achieve the expected results of the economic initiatives that have been or hope to be planned to be implemented particularly in our economic revival efforts,” he said.

The NCCI’s National Corporate Forum provided a platform for Namibia’s private sector leaders to come together and discuss strategies for driving economic growth and recovery.

Uirab’s remarks emphasised the need for public-private partnerships, innovation, and regional economic integration, as well as collaboration between the public and private sectors.

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