Windhoek - Namibia’s President Hage Geingob has called for continued investment in infrastructure segment to stimulate economic growth during the c
global economic downturn.
Fluctuating mineral prices have combined with the ongoing COVID-19 pandemic to batter world economies, and policy makers have been in overdrive to find ways of stemming the bloodletting.
President Geingob is of the view that domestic and international infrastructure investments can improve economic performance.
“Investments in infrastructure create jobs, and enable economic activity and growth,” he said after an inspection of major road upgrades in Namibia this week.
Namibia is premising it’s turnaround programme on an economic recovery plan formulated by a 22-member high level panel commissioned by the president.
After the country experienced negative growth from 2016, President Geingob tasked the panel to review programmes and interventions that would enhance employment creation, inclusive growth and shared prosperity.
Some of the panel’s recommendations include attracting investments worth R40 billion in 2020 to stimulate economic growth.
This week, President Geingob said his government would continue to drive sustainable investment and safeguard lives and livelihoods through the COVID-19 pandemic.
“We are continuously reviewing and adapting the national measures, we are targeting efforts to respond strategically to the situation on the ground, and in the best manner to protect Namibian lives and livelihoods,” said President Geingob.