Following the launch of Namibia’s five-year Harambee Prosperity Plans I and II, Namibian president Hage Geiongob has described these as necessary tools to accelerate development which can be nurtured through investment.
“These are intervening instruments to accelerate our development vision of becoming an industrialised and prosperous Namibia. And this is why we are gathered here today, to seek your partnership and participation in our HPPII, by offering investment opportunities in areas such as green hydrogen and ammonia; oil and gas; infrastructure development; tourism; value addition across all sectors; food production; and exports,” he said on Wednesday during the Dubai Expo 2020.
Geingob further allayed concerns that are associated with investing in a new market such as Namibia.
“Not only is Namibia a rule-based democracy with membership to international investment protecting conventions and instruments such as the International Centre for Settlement of Investment Disputes (ICSID), the Multilateral Investment Guarantee Agency (MIGA) and others,” he said.
Namibia also has an independent judiciary that robustly enforces constitutionally guaranteed property rights for all domestic and foreign investors. Moreover, repatriation of profits, returns, loans and even the entire investment is legal in Namibia, he said. Enditem