Expo2020 Dubai: Botswana’s golden opportunity for economic recovery
Botswana’s participation at the largest ongoing global event, the World Exposition in Dubai, United Arab Emirates ( UAE) has been viewed as an opportunity for economic recovery.
While world expos in themselves might not turn, overnight, the fortunes of a country, throughout their history, expos have been catalysts for change.
They have showcased groundbreaking innovations that still impact the world today. It is hoped that by its participation, Botswana will receive a piece of the pie from global connections that will be made.
Over a period of six months from October 1, 2021 to March 31, 2022, Botswana hopes to achieve its ambitious targets set by the country’s investment agency, the Botswana Investment and Trade Centre ( BITC).
It is hoped that for the duration of the Expo, Botswana will rake in P180 million worth of Foreign Direct Investment ( FDI), through attraction of new investors from the Expo.
The country hopes to raise P100 million in total export revenue through new links with potential and existing exporters with international buyers from a market access of 192 countries currently participating at the Dubai Expo.
About P2.5 million is anticipated from sales of Botswana products at the Botswana kiosk at the Expo. In addition, Botswana is ready to attract investment for market- ready innovation products, promote partnerships between Botswana innovators and the rest of the world, as well as build capacity of local research institutes and researchers through bench learning.
Further that the Expo will promote Botswana as a destination for tech start- ups, something that is expected to propel the country’s aspirations of digital transformation. Still at the Expo, Botswana targets to leave with at- least two factory- ready prototypes.
Botswana’s six month- long stay at the Expo 2020 Dubai is also expected to increase the number of tourist visits to Botswana from the UAE by five percent. An increase of 20 Tour Operators introduced to UAE market and serving the Arab market for visits to Botswana is also expected.
Botswana hopes that at- least one menu of local cuisine will penetrate the global market at the Expo. Young local chefs are expected to be introduced to the international market.
Botswana is also targeting to have four Batswana- owned companies introduced to the UAE market. The Local Enterprise Authority ( LEA) will through the Coordination of District 2020 Global Entrepreneurship Programme help small business and start- ups to scale up production within and to Dubai. Post Expo, SMMES would be allowed to run their businesses at Expo 2020 premises for a year.
After all has been said and done, Botswana hopes to emerge from the Expo with increased brand performance in the UAE market.
The Expo 2020 Dubai is held under the theme, ‘ Connecting Minds, Creating the Future’, thereby providing an opportunity for Botswana to connect directly with global citizens to promote culture, values, technological and economic capabilities.
The expo is premised on developing innovative partnerships across sectors, organisations and geographies to address global challenges. At least 25 million people, 70 percent of them from outside the Middle East are expected to visit over the six months duration.