The outcomes of the economic labs have injected positive momentum towards the implementation of the National Strategic Development Plan (NSDP II) whose objective is to promote inclusive and sustainable economic growth and private sector-led job creation, says the Deputy Prime Minister, Honurable Monyane Moleleki when officially closing the Lesotho Economic Laboratories.
Honourable Moleleki noted that the implementation of the economic lab programme will change the economic narrative of Lesotho very quickly, ushering the country into the new and better economic landscape.
“As the leadership of this government we commit to deliver on our commitments”, declared the DPM and further appealed to the investors to bring in the investments that they promised and to invite more private companies to invest in Lesotho.
Honourable Moleleki further indicated that where substantial investment are required, the Ministries for Finance and Development Planning should take the lead and work together with development partners in mobilizing new resources whilst maintaining macroeconomic stability and reprogramming where possible to ensure that the required public investments that will unlock the identified private investments cab be secured.
“Furthermore, the lead Ministries form the four productive sectors have already made their commitment for implementation, however, it is clear that they cannot solve the issues alone without synergy with other sectors.” Stressed the DPM
At the same occasion, the Minister of Development Planning, Honourable Tlohelang Aumane said the end of the Lesotho Economic Labs does not signigy the end, but rather the beginning of a new phase in economic acceleration.
“The momentum that is harnessed by the labs will be carried on to implementation, and a robust and evaluation framework will be in place to sustain the progress and achieve the set targets,
In preparation for implementation, a dedicated Delivery Unit will be established at the highest level of governance to ensure accountability in delivering results. The unit will plan a facilitative role with ministries, department and agencies to work hand-in-hand with the private sector to realize the achievement.’’ Noted Honourable Aumane.
Further, proper and rigorous implementation, monitoring and tracking will be crucial in meeting NSDP targets. The Government of Lesotho has to allocate strategic amount to public funds to catalyse private sector growth through the selected projects. This is in line with the demand-based public spending to meet business development needs
The Economic Labs closing comes after 9 weeks of intense collaboration and engagement between public and private entities, where a list of high-impact projects were prioritized with specific contribution to the GDP, private investments and jobs.