Namibia unpacks investment prospects at 2022 summit

The Namibia Investment Summit was held on 23 March 2022, under the patronage of His Excellency President Hage Geingob, at the Grant Hyatt Hotel in Dubai, United Arab Emirates. In his opening remarks, President Geingob said the Summit’s objectives underlined Namibia’s national drive to alleviate poverty and inequality by building inclusive economic development and growth through investment.

The summit, organised by the Namibia Investment Promotion and Development Board (NIPDB) in partnership with various public and private entities, was hosted on the margins of the expo 2020 Dubai to highlight growth and investment prospects within the key economic sectors of renewable energy including the green hydrogen development; agribusiness by propelling agritech and high value supply chains to diversify exports; tourism post-covid-19 recovery plan; infrastructure, logistics and transport; as well as mineral beneficiation and mining-related industries.

Addressing a full house of potential investors, current investors and captains of industry, amongst others, Chairperson and CEO of NIPDB Nangula Uaandja, who also serves as Commissioner General of the Namibian Pavilion at the expo, said Namibia’s objectives to participate at the Expo 2020 Dubai is to promote the country as a preferred investment and tourism destination and that the Summit was an extension of the Namibian Pavilion’s strategies to brand and position Namibia globally by promoting sectors with potential to spur socio-economic development for a private sector-led economic growth.

On her part, Industrialisation and Trade Minister Honourable Lucia Iipumbu stated that the summit is geared to attract sustainable investment by enhancing a conducive business environment through liberalised policy initiatives befitting the free-market economy the country has had since independence. She added that the government is at the tail-end of finalising a new investment law to ensure that Namibia has no policy gap as regards investment.

Opportunities

Furthermore, the summit comprised of panel discussions on each of the key sectors of promotion. These sessions were championed by the line Ministers that formed part of the President’s delegation to the Summit. Minister of Agriculture, Water and Land Reform, Honourable Calle Schlettwein, was one of these Cabinet Ministers and formally opened the agribusiness session. In his remarks, Honourable Schlettwein said Namibia seeks investment to broaden the agriculture value chain to span from the field to the plate in order to capitalise on the host of opportunities available especially in value addition such as employment creation for the Namibian youth. “Namibia has access to the highest-paying markets in the world for our beef, table grapes and dates that investor can exploit,” he said.

Other Ministers included that of Finance Honourable Ipumbu Shiimi, who opened the sessions for Green Hydrogen and Logistics, Infrastructure and Transport. Deputy Minister of Mines and Energy Honourable Kornelius Shilunga also presented during the Mining and Mineral beneficiation as well as Energy sessions. Existing investors in Namibia also shared their Namibian experiences with the potential investors during the Summit.

The day-long event, which was held under the theme: “Namibia, Advancing Sustainable Investment for a Diversified, Export-driven Economy,” concluded with business-to-business and business-to-government meetings aimed at fostering strategic partnerships between public and private sectors for inclusive development.

These meetings were preceded by two key announcements of the Namibia-Germany Bilateral Air Service Agreement and the MoU amongst the Dubai College of Tourism, Namibia University of Science and Technology as well as Namibia Training Authority.