Botswanan President Mokgweetsi Masisi said Tuesday that the country intends to set up a high-level consultative board to attract investors into the country's manufacturing sector.
GABORONE, Aug. 8 (Xinhua) -- Botswanan President Mokgweetsi Masisi said Tuesday that the country intends to set up a high-level consultative board to attract investors into the country's manufacturing sector.
Masisi told delegates at the country's 2nd Local Manufacturing Summit in the national capital of Gaborone that a new consultative arm -- Botswana Economic Development Board -- is being crafted. Chaired by the president, the board is expected to remove red tape affecting the potential investors in the manufacturing sector.
"The board will deal with unnecessary barriers for those seeking to do business in Botswana," said Masisi, stressing that his administration is working hard to make sure that the country is one of the best locations for investment.
He insisted that the manufacturing sector has high growth potential and plays a pivotal role in the national economy, as the country intends to transition from a middle-income economy to a high-end economy. "We need to raise productivity levels so that we achieve much more with less. The manufacturing sector has no option but to strive for high levels of production," said Masisi.
The president highlighted that manufacturing has been the engine of growth for many economies around the world, calling on both the private and public sectors to support and promote the manufacturing sector to boost economic growth.
"We are duty bound to address these challenges by expanding economic activities," said Masisi, urging the mining sector, as the economic mainstay, to continue supporting the growth of the manufacturing sector. ■
