Promising projects from Invest in Namibia
The Minister of Industrialization, Trade and SME Development, Hon Immanuel Ngatjizeko on 9 November gave a press briefing on the closing ceremony of the Invest in Namibia International conference and informed the press that the conference secured 11 investments projects throughout the country, one of which bagged US$250 million.
The Prime Minister Saara Kuugongelwa-Amadhila explained that the conference was held under the theme ‘Industrialization and Inclusive Growth’, saying that through partnership of the government and the private sector, Namibia can discuss new market opportunities, and create revenue streams.
Ngatjizeko listed highlights that the conference produced such as Polycare. A German company Polycare that has developed an innovative, low-cost, strong, and environmentally friendly building system which produces lego-like building blocks that are 87% made out of desert sand and 13% polyester resin which takes two days to construct without the use of other by products such as cement.
The minister said that Polycare intends to set up a production facility in Okahandja in 6-8 months which will utilize Namibian desert sand and supply Polycare building blocks to Namibia and the region. “The City of Windhoek also held talks with Polycare in order to explore the possibility of working together in order to construct low-cost housing to tackle the housing backlog. The proposed homes will integrate renewable energy applications in order to address the problem of lack of electricity in the informal settlements. Through this facility, Polycare will be able to assist Namibia to tackle the housing shortage and create local jobs” Ngatjizeko explained.
It was also announced that MK International, a South Korean company and Otavi Rebar Manufacturing, created a Public Private Partnership (PPP) between private investors and the Otavi Town Council and signed a Joint Venture Agreement in order to set up a reinforcing steel manufacturing plant. The plant will be strategically located on the SADC Walvis Bay Corridor Network in Otavi and will go by the name Namibia Steel Manufacturing.
“The product range will include but not be limited to rebars and steel products in a variety of profiles, allowing Namibia to reduce its dependence on imported construction material. The initial production capacity of the plant will be 580 000 tons per annum and the projected investment is estimated at US$250 million. More than 800 skilled and 700 semi-skilled jobs will be created” the Minister of trade summarized.
He noted other important projects such as the Chinese group facilitated by Mr Wang of Sungroup that has agreed with the City of Windhoek and Rundu to explore opportunities of land servicing and low and middle income housing development.
In addition, Ngatjizeko listed other major areas of investment such as Land Rover Experience Germany, which is in the process of setting up a centre in Namibia that will service an exclusive clientele who will be flown into the country with Air Namibia.
Other logistical projects included Hon Mr Makhura who had an opportunity to establish relations with the Governor of the Erongo Region, Hon. Cleophas Mutjavikua and visited the Swakop Uranium Mine, Namport, Walvis Bay Salt Holdings, Sea Works Fishing Company and the !Nara Industrial Park. The Trans-Kalahari Corridor directly links the port of Walvis Bay with the Gauteng Province, hence the two regional/provincial government heads agreed to work on the formulation of an MOU to strengthen economic cooperation between the two regions.
Sven Thieme, the President of NCCI noted that Namibia currently can not compete with large economies, but is, smart, small and sexy, with opportunities of strengthening culture and has an element of diversity in business.