Geingonomics is key for improved competitiveness The economic inclusion or Geingonomics as a economic strategy for Namibia is increasingly becoming at the forefront for ensuring inclusive and broad based growth for Namibia. There is also need to increase competitiveness having high levels of productivity and producing goods and service that the region and the world can buy. The Growth at Home Strategy as a industrialization anchor by the Minister of Trade, Calle Schlettwein is a step in the right direction. Namibia can emulate the likes of Switzerland, Singapore and Mauritius as they are all in effect small states Nations with small sized population. Important competitiveness factors such as innovation in areas of standards, research, and intellectual property are key. Business sophistication in professionalism of approach on institution building and institutional effectiveness are also important as cornerstone for Geingonomics. Equally, technological readiness on infusing latest technologies into production and financial processes should be encouraged. The small business development and entrepreneurial spirit instead of wage employment in areas of youth empowerment and businesses readiness should be vigorously pursued. Overall there is need for economic reforms and fiscal stimulus to productive sectors in Namibia. The structural reforms of Mauritius are useful lessons and the implementation drive by the incoming Geingob Presidency on economic policies such as on State Owned Enterprises reforms remains a fundamental game changer to push Namibia from a maintenance economy to a expansionist economy with growth levels from three percent at current levels to doubling of six to seven per cent.
Posted on: Sun, 07 Sep 2014 13:54:42 +0000
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