NEEEF important for economic growth
OGONE TLHAGE
WINDHOEK
Economist Mally Likukela reasons that the adoption of the New Equitable Economic Empowerment Bill will promote economic inclusion.
Appearing on the 'Evening Review', Likukela argued its adoption was necessary. “Without NEEEB, whatever growth comes from an investor, with the current situation remaining, would lead to jobless growth, inequality,” Likukela said. “So, if Gross Domestic Product (GDP) grows by N$50 billion, that N$50 billion is only going to 10% of the population without that bill.” According to Likukela, NEEEB should not be seen from the angle that it is being implemented to take away the assets of the previously advantaged.
“It should not be seen from the angle from which I am seeing it, to try and disempower a certain group. No, it is supposed to bring balance and stability in economic participation. The bill must come in so that levels the economic playing field,” Likukela said.
He cautioned that its implementation was taking too long. “The problem is it has taken too long … because it has taken too long, it could be overtaken by current issues like the Covid-19 pandemic,” Likukela said. Mines minister Tom Alweendo recently said there was a need to finalise the empowerment bill following the release of a report by the Fraser Institute, which deemed Namibia to be an unattractive mining investment destination.
“It goes without saying that the government must do everything necessary to attract investors, both local and foreign. It's thus important that we finalise the necessary stakeholders' engagement in relation to NEEEB and the Investment Promotion Act soonest,” Alweendo said. The mines minister, however, felt that the assessment of Namibia's attractiveness was not fair.
“At times, the negative perceptions are, unfortunately, informed by some investors' desire to obtain benefits that are not beneficial to the host country. When that happens, albeit in few cases, we do engage the investors to explain to them that we only welcome investment that is mutually beneficial,” he said.
WINDHOEK
Economist Mally Likukela reasons that the adoption of the New Equitable Economic Empowerment Bill will promote economic inclusion.
Appearing on the 'Evening Review', Likukela argued its adoption was necessary. “Without NEEEB, whatever growth comes from an investor, with the current situation remaining, would lead to jobless growth, inequality,” Likukela said. “So, if Gross Domestic Product (GDP) grows by N$50 billion, that N$50 billion is only going to 10% of the population without that bill.” According to Likukela, NEEEB should not be seen from the angle that it is being implemented to take away the assets of the previously advantaged.
“It should not be seen from the angle from which I am seeing it, to try and disempower a certain group. No, it is supposed to bring balance and stability in economic participation. The bill must come in so that levels the economic playing field,” Likukela said.
He cautioned that its implementation was taking too long. “The problem is it has taken too long … because it has taken too long, it could be overtaken by current issues like the Covid-19 pandemic,” Likukela said. Mines minister Tom Alweendo recently said there was a need to finalise the empowerment bill following the release of a report by the Fraser Institute, which deemed Namibia to be an unattractive mining investment destination.
“It goes without saying that the government must do everything necessary to attract investors, both local and foreign. It's thus important that we finalise the necessary stakeholders' engagement in relation to NEEEB and the Investment Promotion Act soonest,” Alweendo said. The mines minister, however, felt that the assessment of Namibia's attractiveness was not fair.
“At times, the negative perceptions are, unfortunately, informed by some investors' desire to obtain benefits that are not beneficial to the host country. When that happens, albeit in few cases, we do engage the investors to explain to them that we only welcome investment that is mutually beneficial,” he said.
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