The President HE Dr Hage Geingob in his 2019 State of the Nation address in Parliament this week, said that Namibia is in a better position than it was a year ago
According to Geingob, this is primarily because underlying economic fundamentals have been strengthening adding that Namibia’s improved ranking as the 4th most competitive economy in Africa, is indicative that current regulatory reforms are taking shape.
Geingob said that the economy is emerging from a protracted technical recession, and is forecast to grow by 0.2% in 2019 and a further projected growth of 2.2% by 2020.
“Government has provided certainty on key policy areas, including land ownership by foreigners, the economic transformation framework and manufacturing incentives. Reforms to conduct a public service Bureaucratic Bottleneck Audit; business-registration-process re-engineering and the establishment of a labour productivity centre, will over time, improve efficiencies, build trust and boost overall investor confidence,” the president said.
Furthermore, Geingob stressed that national unity is an incremental prerequisite to peace, stability and economic development.
“Without unity, there is no nationhood, without nationhood there is no social cohesion and without social cohesion, there can be no possibility of shared economic wealth and prosperity. We must be patriots and the best way to demonstrate patriotism is by persevering in the face of adversity; hand in hand, step by step, one stride at a time, towards the attainment of our dreams and goals,” Geingob said.