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‘Namibia is the right destination to venture into business’ – Tweya

‘Namibia is the right destination to venture into business’ – Tweya

The Minister of Industrialization, Trade and SME Development, Tjekero Tweya on Friday said that the country is the right destination to venture into business and and for new  investment, more pertinently from foreign investors.

Minister Tweya said this when he addressed a visiting Chinese delegation, who is in the country exploring and seeking investment opportunities.

The delegation was hosted by the ministry as well as the Chinese Embassy together with the Namibia Chamber of Commerce and Industry at a business forum held at the Hilton Hotel.

The forum was attended by a number of local business people, who had the opportunity to engage their Chinese counterparts and discuss different areas of investments which include the construction, energy, infrastructure, education, tourism, agriculture, tourism, manufacturing and mining sectors amongst others.

According to Tweya one of the main focal points of his ministry is to lure foreign direct investments to Namibia.

“We are aggressively looking for prosperous export markets for local products and services and this forum has created an ideal platform to do so. Namibia is the right destination to venture into business,” he added.

Tweya said that the forum offered great potential for local business to tap and extract experience and expertise from Chinese businesses which will come-in quite handy when the African Continental Free Trade Area is in full swing.

Tweya added that for trade or investment relations to flourish between the two nations, a reciprocal approach is needed, ideally a trade relationshop whereby if Namibia buys from China, Namibia must also sell to China.

Namibian Investment Centre Director, Dolly Amoomo in a presentation to the attendants, outlined the vast opportunities that the country has, highlighting the country’s advantaged geographic location, political stability and abundant mineral resources as well as its tourism potential.

The delegation led by the Chairperson of the China Council for Promotion of International Trade, Gao Yun included six officials and 30 Chinese business people from different sectors eyeing the possibility to invest in the country.

Speaking at the event, Yun said as all-weather friends the delegation is ready to work with  Namibian businesses in the different fields.

The Chinese delegates commenced their visits to several African countries from 16 July and are expected to conclude their mission on 25 July. The countries covered under the current mission are Namibia, South Africa and Mauritius.

Meanwhile, at the end of this month the High Level Panel on the Namibian Economy will host an economic growth summit to restore business confidence which it hopes to achieve by an undertaking from the government that it will provide policy clarity on pending issues so that investors know where they stand in terms of investment risk.


About The Author

Musa Carter

Musa Carter is a long-standing freelance contributor to the editorial team and also an active reporter. He gathers and verifies factual information regarding stories through interviews, observation and research. For the digital Economist, he promotes targeted content through various social networking sites such as the Economist facebook page (/Nameconomist/) and Twitter.