Martin Endjala
JAPAN’S Minister of Economy, Trade and Industry, Nishimura Yasutoshi says his country is willing to avail U$D 1.5 billion to support Namibia’s energy sector and human resources development.
Yasutoshi made this announcement on Tuesday at the State House during the signing ceremony on economic ties between the two countries.
He said the funds will also go towards the training of personnel in the rare earth metal supply chain, an industry which is currently booming worldwide now.
“This creation industry of rare earth metal is part of Japan’s comprehensive envisaged in Namibia, which could bring about other international investment cooperation. It will also be looking at investment trade cooperation and partnering with Hyphen Hydrogen Energy with an interest in Ammonia, as well as project development,” he said.
Yasutoshi reaffirmed his country’s commitment towards supporting Namibia in realising its green energy potential as well as human resource development and supply chain trading.
Speaking at the same event, Minister of Industrialisation and Trade, Lucia Iipumbu, reiterated that Namibia seeks to strengthen economic ties with Japan in terms of trading missions, such as the renewable energy sector, production of machinery and automotive.
She said this will enhance the two country’s economies, by bringing together companies from both countries to trade with each other, and the engagements held so far are also looking at the sector of healthcare.
“As of now, we are trading with Japan on the most favourable nation’s tariffs, but if we have a competitive agreement that is signed by both parties, we will then have tariffs that are negotiated and at the end of the day we will improve on our trade statistics,” said Iipumbu.
She revealed that based on the current statistics, Namibia imports an estimated N$ 1.4 billion worth of goods and services from Japan, and exports to Japan N$ 90 million worth of goods and services.
She opined that there is a need to change these statistics and turn them around to have an agreement that will focus on sectors the two countries are not collaborating on yet.
Meanwhile, Minister of Mines and Energy Tom Alweendo, said that the fact that Japan wants to be involved in project right from the beginning showing through this commitment.
“Instead of Japan waiting for the off-take of the green hydrogen or ammonia, it is rather seeking to be part of the overall value supply chain hence the agreement signed by the two parties. I therefore, believe that this is going to be a good partnership and hope for fruition in the end,” he said.
Meanwhile, Presidential Affairs Minister, Christine //Hoebes says Namibia is ready to partner with the Japanese government learn expertise and Knowledge concerning the development of Green Hydrogen projects.
She said this at state house where Hyphen Hydrogen Energy signed a Memorandum of Understanding (MoU) with Japanese company, ITOCHU Corporation (ITOCHU) to explore areas for potential collaboration on a fully vertically-integrated green hydrogen project.
Speaking during the signing ceremony, Hyphen Chief Executive Officer, Marco Raffinetti said they expects Japan to emerge as one of the key demand centres for green ammonia globally, and Hyphen is delighted to have the opportunity to explore areas for collaboration with ITOCHU to unlock supply into the critical market.
He added that he firmly believes that Namibia has the potential to become a long-term strategic partner to Japan for the supply of green hydrogen, well beyond the scale of Hyphen’s project, given Namibia’s unique competitive advantages in green hydrogen production. “Combined with the support of the Namibian government which is progressively advancing the development of its green hydrogen economy,” he said.
Speaking at the same occasion, ITOCHU Chief Executive Officer for Africa block, Shinya Ishizuka, said that they are pleased that ITOCHU, a leading general trading and investment house in Japan, is contributing to a low-carbon society together with Hyphen.
“With this collaborative development of green ammonia in Namibia, ITOCHU will aim to create a wide range of ammonia value chains in various existing industrial applications as well as for future energy use, and will support our clients and industries in achieving low carbonisation goals focusing on Japan, Asia and its surrounding markets.
“ITOCHU will initiate and enhance our industrial portfolio in the energy sector while achieving our commitments towards decarbonisation activities in various prospective industries,” said Ishuzuka.
He added that with collaborative development of green ammonia in Namibia, ITOCHU will aim to create a wide range of ammonia value chains in various existing industrial applications as well as for future energy use with its partners.
“ITOCHU will initiate and enhance our industrial portfolio in the energy sector while achieving our commitments towards decarbonisation activities in various prospective industries,” he said.
Green Hydrogen Commissioner, James Mnyupe highlighted that the two companies will collaborate in developing programmes in the green hydrogen project as well as look at finances.
