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(a) Industries should employ efficient technology to reduce production costs. This is a solution to shortage of capital. Local and international financial institutions should assist in raising capital by giving long term loans at affordable interest rates.
(b) The local manufacturers and the governments should explore external markets especially within the regional trading blocs. This will supplement the local market which is inadequate.
(c) The government should improve transport and communication networks throughout the world.
(d) More people should be trained in the respective fields to make up for the shortages. This will increase the skilled labour force that is much required in the country.
(e) Alternative types of energy such as Solar, wind and hydroelectric power should be developed to lower the cost of energy in the country.
Faimus answered the question on April 27, 2018 at 11:56
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