USE SDGS TO ADVANCE TRADE, INVESTMENT – SARFED

MBABANE – Government has been advised to target specific industries and sectors with a higher multiplicative drive for investment expansion, while at the same time creating a sustainable livelihood for everyone.The Southern Africa Research Foundation for Economic Development (SARFED) Regional Coordinator and Senior Policy Adviser, Dr George Choongwa, said this must be done to create sustainable livelihoods, especially for the youth, who are also currently faced with high level of unemployment, as statistics are at about 53 per cent.

Considered

Dr Choongwa said traditionally, investment policies and practices have been considered drivers for the Sustainable Development Goals (SDGs), but the new twist of things has gained many grounds in the advancement of both private and public investment using the SDG pathway. He said the 17 sustainable development goals are not only human-focused but interrelated, bringing together all four predominantly development sectors, namely; environment, social, economy and culture. “It is, therefore, a critical stance that should be taken by government to develop and implement innovative policies for quick and sustainable economic viability,” he said.

The economist said the sustainable development paradigm should enhance what could be termed the big push for a robust and resilient ‘SDG investment chain’, which should strengthen the interconnectedness of all strategic partners with government.He said it was no longer the old school of working in silos; government should now embrace the relevance of strategic partnership as a critical aspect for sustainable development.Dr Choongwa added that, however, efficiently channelling investment, both private and public, towards the 2030 Agenda for sustainable development requires a more deliberate and strategic approach in all sectors of society. He said this should be more inclusive than the traditional one-way approach. He said it involves the preparation of specific, often government-initiated, investable SDG projects to be promoted, as well as targeted outreach mechanisms directed at potential financing partners that go beyond traditional investors.

Result

He said the merit of having a collective approach would result in the realisation of a shared common future, regardless of individual functionality in the economy.Dr Choongwa further highlighted that according to the action plan suggested by the World Investment Report, government would identify some of the private sector’s strategic approaches and areas of low cost, but with high value benefits as a means of re-engineering and consolidating the SDG investment chain for the country.“The benefit of low costing is that of cushioning relatively high-risk investments due to high domestic and global market uncertainties; for example, government would establish specified policies and regulations to support relatively small private investments with high multiplicative potential as drivers for small and medium-sized enterprises as well as promoting employment creation,” he said.Dr Choongwa said SDGs are the building blocks for both the present and future global economic system.

Embracing

He said government should embrace the sdgs for the advancement of the nation’s sustainable development agenda in all sectors, namely social, environmental, economic, and cultural, among other interlocking themes.He said this could only be achieved by using both private and public investment as key functions for capital formation to advance both the present and future generations. “Therefore, SDGs should not be considered as ends but as means to a sustainable end, which is also defined by having a viable and inclusive investment agenda,” he said.He said, however, that in order to successfully attract ideal, cost-effective and sustainable investment portfolios in the country, government should continue to create incentives for green investment, as it would give a new horizon for sustainable growth through innovative initiatives and policy governance practices. Dr Choongwa said if these incentives were strategically defined to address certain sectors of the economy and to benefit certain target groups, such as the youth in this case, it would be beneficial for the country not only in the short-term, but in the long-term as well, as labour capacities would have ideally been successful.

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