Costed Action Plan for SADC Industrialization Strategy and Roadmap (viii) Increase in industry share of GFCF to 33% from 24%; 5. Risks (a) Risk sources Secular stagnation –protracted global economic slowdown; Depressed commodity prices; Slower global trade growth; Increased global trade protectionism; Reduced global flows of FDI and financial resources including nonhumanitarian foreign aid; (vi) Accelerated climate change resulting in failure of agricultural productivity to improve; (vii) Shortening of GVCs reflecting heightened global political and economic risks; (viii) Technology shifts in favour of high-tech, capital/skills intensive operations; (ix) Deterioration in political risk profiles in the region. (x) Depletion of natural resources due to unstainable exploitation (i) (ii) (iii) (iv) (v) (b) Risk Management and Mitigation The feasibility of implementation of the Action Plan will be greatly assisted by establishing built-in risk tracking, mitigation and management mechanisms that optimally and speedily respond to the related internal and/or external sources. Those arising from domestic factors exhibit themselves mostly in the form of macroeconomic instability, institutional inefficiency and project or programme failure due to lack of capacity or poor design. The external factors are normally linked to international economic gyrations, technological evolutions, environmental (including climate change and disasters) factors and socio-political tensions. Naturally, these factors impact different countries differently. But in all probability they will affect raw material prices, ODA and FDI resource flows negatively. To mitigate the impact of both the internal and external sources of risk, a four-pronged strategy will be needed. (1) Strengthening the compact for industrialization consisting of the public and private sectors and other industry/development-related stakeholders. (2) Risk-mapping and management, with focus on: (i) Risk identification, probability of occurrence and possible impact. (ii) Regular risk-tracking and evaluation (iii) Risk readiness and stand-by risk mitigation measures. (iv) Risk management planning scenarios, informed by competent forecasts and analysis. 72