Prime Minister Saara Kuugongelwa-Amadhila is urging a shift away from dependence on imports in Namibia, emphasising the importance of supporting locally made products to stimulate economic growth.
Kuugongelwa-Amadhila, who addressed the attendees at the 10th Jubilee Opuwo Trade Fair, says purchasing local products plays a crucial role in supporting local enterprise development, promoting job creation, and driving economic expansion.
According to the Prime Minister, relying heavily on imports exposes Namibia to potential shocks originating from external factors.
"The disruptions in supply chains that have caused shortages of critical supplies and price hikes in basic products have highlighted the vulnerability of our economy due to reliance on imports and the need to build national resilience by developing self-reliance in basic commodities."
Prime Minister Kuugongelwa-Amadhila also highlights that engaging in value addition within Namibia leads to increased earnings from processed resources, providing a solid foundation for accelerated industrialization.
She, therefore, reaffirmed the government's dedication to supporting both local businesses and foreign investors.
"The leadership and residents of Opuwo have shown resilience in their pursuit of prosperity for this town. Your passion to bring development to this town is indeed shared by the central government, as reflected in the government policies that seek to bring about sustainable and equitably shared economic growth with jobs throughout our country."
The government, the Prime Minister says, is currently in the process of compiling a business rescue task force report aimed at establishing a funding source that will provide relief to debt-ridden companies, enabling them to recover and regain profitable performance.
In her welcoming remarks, Mayor Rosa Mbinge Tjeundo of Opuwo emphasised the success of the fair and its significance in promoting and marketing the town.
"The Opuwo Annual Trade Fair has always been the platform for marketing and selling products. At this event, we market our town, attract investors, and create opportunities through business networking."