Martin Endjala
The Vice President of Namibia Nangolo Mbumba has called on investors to come and explore what Namibia has to offer and invest, saying that it is a land with vast potential that offers trade investment opportunities in multiple sectors beyond energy.
He made these remarks during the US-Africa Business Summit 2023, yesterday in Gaborone, Botswana.
“With its overarching goal to enhance bilateral and multilateral trade between the United States and African nations, I would like to reiterate that Namibia is open for business and we are inviting investors who are interested in exploring the available opportunities for shared economic growth,”Mbumba said. This is to emphasise the Namibian government’s unwavering commitment to creating a conducive environment for business, the Vice President said.
“In Namibia, you are not only assured of vast economic potential and opportunities waiting to be seized but also of predictable systems, processes and institutions that guarantee a seamless investment experience”, said Mbumba.
The Vice President noted that government is doing this by removing legal or administrative impediments, and ensuring that the trade and investment landscape remains fit for purpose.
This, according to Mbumba includes tourism, mining, agriculture and agro-processing, transport and logistics, amongst others. He added that the key objective for Namibia is to leverage the existing capital-intensive industries to set the basis for productive diversification towards industries that can employ more people with higher capabilities and jumpstart the Namibian economy.
The Namibia Investment Promotion and Development Board as well as the Ministry of Industrialisation and Trade, he said, are strategically placed to realise this.
Mbumba said that one of reasons that make Namibia a lucrative investment destination is its strategic location supported by the world-class port at Walvis Bay.
From this port he said, Namibia can unlock access to the SADC market, the African market and the rest of the world and beyond this, the port is viewed as a primary tool to contribute towards building a stronger African economy.
“This is because Africa is a continent filled with unlimited potential and unmatched natural resources to drive industrial and economic development and achieving these noble goals will require significant contributions by all industry role players and Namibia is ready to foster regional cooperation,” Mbumba added.
Mbumba said they equally have the responsibility to contribute towards the sustainable development of the continent and ensure prosperity for all who live in it. Through reciprocal trade and investments between the respective countries, shared economic value and prosperity can be created, he added.
In the quest to ensure that Namibia remains an attractive investment destination, the Vice President reiterated that they are deliberate in eliminating constraints that impact the ease of doing business in the country, from advocating for policy reforms to establishing an Investor One Stop Centre-a physical, single point of access to information and facilitation services for investors.
