Prime Minister Thomas Thabane says the current coalition government is committed to accelerating business development and employment creation through the economic laboratories.
Economic laboratories are experiments that usually use cash
to motivate people, in order to mimic real-world incentives. Experiments are
used to help understand how and why markets and other exchange systems function
as they do. … Experiments may be conducted in the field or in laboratory settings,
whether of individual or group behaviour.
Speaking during the official launch of Lesotho 209 Economic Laboratories in Maseru on Wednesday, Thabane said the launch was “part of the government’s initiatives to implement the National Strategic Development Plan (NSDP) II whose goal is to promote private sector led, inclusive and sustainable economic growth as employment creation and growth are anchored on four key productive sectors.”
He reiterated that Commercial Agriculture, Tourism and Creative Industry, Manufacturing as well as Technology and Innovation are four key sectors identified to have potential to create jobs in the country.
”It is our expectation that the target of creating 22,000 new direct jobs through the laboratories will be achieved in the near future”, he said.
Thabane stated that through the sectors, the expectation is that by the end of the laboratories, a list of investment projects showing the level of private investment to be committed, direct and indirect jobs to be created will have been listed for Lesotho’s economic growth.
He explained: “Those who will be participating in the economic laboratories will know that this is an intensive and specialised public-private sector platform and an opportunity for private sector entities to work together with government to identify action necessary to mitigate implementation barriers in existing or new projects.
”It is time for us to embrace the demand based developments and match public investments with private sector needs and promote smart private and public partnership”.
On December 20 last year, a strategic direction setting workshop facilitated by Dato Idris Jala of PEMANDU associates was held for the Cabinet to brief them about some of the pitfallls that should be avoided and the good examples of PEMANDU in Malaysia and in other African countries.
The initiative is spearheaded by the Ministry of Development Planning.