The Namibia Economist

Namibia open for trade

The Namibian Investment Forum, which is scheduled to take place later this month, is expected to attract foreign investors with the aim to sensitise them on the country’s economic potential and business opportunities in the mining, energy, agriculture, transport infrastructure and tourism sectors.
The forum will also profile the country’s national trade and investment strategies.
The investment forum, an initiative by the Ministry of Trade and Industry in collaboration with the public and private sectors, will enable bilateral meetings with the purpose of encouraging joint venture discussions, said Tjekero Tweya, Deputy Minister of Trade and Industry.
“The investment forum will add towards ongoing efforts geared towards diversifying the economy from dependence on the production and export of primary products towards industrialisation, and also from dependence on one single market source towards multiple market destinations.... We expect that the introduction of foreign direct investment will assist Namibian companies in becoming more competitive, as well as for Namibia to take its place among the industrialised nations as per Vision 2030 objectives,” said Tweya at the launch of the investment forum and Made in Namibia Expo, recently.
According to the Ministry of Trade and Industry, more than 50 investments amounting to N$3,025 billion were recorded in 2010, while in 2009, N$3.57 billion worth of investments were concluded.
This week, the British Minister for Africa, Henry Bellingham, said his country would like to invest more in Namibia. He said he expects bilateral trade between the two countries to increase to N$6 billion per annum over the next four years. Trade between Namibia and Britain currently amounts to N$3 billion annually.
The Made in Namibia Expo will showcase locally manufactured products - 130 local companies and small and medium enterprises from across the country will participate in the event.
“The purpose is to introduce both Namibians and international investors to products being manufactured by local SMEs and to assist SMEs to network and establish a wider market beyond their regions.
“We hope that international investors may show interest in cooperating with these SMEs and further develop their products through capital injection, technology know-how and international market distribution,” said Tweya.
The Namibia Investment Forum will be hosted from 29 to 30 November. The Made In Namibia Expo will run concurrently and will continue until 1 December.
Sector presentations from line ministers and renowned international and national experts will dissect development potential in areas such as mining, energy, agriculture, education, finance and tourism. These are expected to be highly informative, interactive and stimulating sessions where policy makers, business practitioners and academic intellectuals will approach issues from different yet complementary angles.
More than 500 delegates including trade ministers, foreign investors and local companies are expected to participate in the expo and investment forum. The Made In Namibia Expo is expected to become an annual event.

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