The President of the Namibia Chamber of Commerce and Industry, Bisey |Uirab, has added the chamber's voice to the cohort, saying that the ongoing global geopolitics are becoming a factor in international trade and investment.
This, he says, is a worrisome trend.
|Uirab was speaking at the inaugural State of the Business Address in the capital this morning.
"Therefore, it is not surprising that countries, regions, and trade blocks are closing ranks to stimulate production and thereby offer a degree of protectionism to their enterprises; this is being done in various ways, among others, through policy changes, fiscal assistance, and concluding bilateral and multilateral agreements among themselves."
By global standards, says the NCCI president, the situation he just described puts Namibia and its small economy in turbulent waters, and he is calling on all stakeholders to adopt a collective approach in order to steer through the storm.
He reminded the business community that the only way to achieve growth in the business sector is through collaboration, which must also be inclusive of the Sub-Saharan African sectors and the entire African continent from a broader perspective.
|Uirab continued to stress that Namibia has demonstrated its openness to foreign investment, particularly in innovation and novel sectors such as renewable energy and grassroots-level cosmetic production.
"However, we will fail in our endeavour to grow the country's economy unless we focus our attention on skills development and technological innovation."
The aim of the State of the Business Address, he stated, is to address the inequalities in the country and to collaboratively grow Namibia's economy.
"There is therefore no place for fragmentation in our economy, nor is there any room for ineffective communication within our economy. Following an assessment by the NCCI, a need for improved communication between the private sector and policymakers must be made clear. There is a need for the formulation of communication systems between the public and private sectors.