Economic panel targets N$14bn

04 July 2019 | Economics

The high-level panel on the Namibian economy is scheduled to host an investment summit at the end of this month, which will ignite the process to raise about N$14 billion over two years, its chairperson Johannes !Gawaxab has announced.

This follows an earlier announcement made by President Hage Geingob during his State of the Nation Address (Sona) in April.

According to !Gawaxab an immediate deliverable for the panel will be coordinating the hosting of the two-day economic growth summit. The summit will take place from 31 July to 1 August 2019 at the Safari Court and Conference Centre in Windhoek, he announced.

“It is envisaged for there to be public sector commitments, the articulating of policy stances on issues that have been clouded by policy uncertainty and further announcements of private sector investments worth US$500 million (N$7 billion) over the next 12 months,” said !Gawaxab.

The summit will be held under the theme 'Economic Revival for Inclusive Growth - Strengthening the Namibian House'.

!Gawaxab explained it will be a private sector-led initiative hosted and coordinated by the panel. Therefore, the summit will be entirely funded by the private sector.

“It is important to note that the preparations for the summit are currently in full swing and we will be ready to host our local, regional and international participants by the given dates,” !Gawaxab said.

The plenary and various breakaway sessions, cutting across key growth sectors, will bring together policymakers, investors and key experts, amongst others, from all 14 regions of Namibia, in order for them to engage in arriving at plausible recommendations for the country's economic growth, and significantly enhance job-creation.

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