WINDHOEK, Mar. 24 – President Hage Geingob has sought partnership and participation in Harambe Prosperity Plan (HPP) II by opening the door to investment opportunities that can be necessary tools to accelerate development. These were some of Geingob’s talking points on Wednesday during the Dubai Expo 2020, where some 192 countries are participating under the theme of “Connecting Minds, Creating a Future”.
Giving an outline on HPPs I and II, Geingob said: “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.”
Geingob allayed concerns that are associated in investing in a new market such as Namibia.
“I understand that investors are primarily concerned with the question of whether or not their investment including capital, machinery and know-how would be safe if they decide to invest in a new market such as Namibia, and to be allowed to repatriate profits to their home country. On these questions let me reassure you that 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.”
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. Thus, there is no need for concern in that respect.”
“Also, on investment security, we will have an opportunity later on to listen to what fellow multinational company investors who are operating in different sectors in Namibia are saying based on their everyday experiences.”
“Once again, I encourage all of you who have not yet invested in Namibia to make an investment decision and become Namibia’s investment partner. And if not an investment partner, then try to become Namibia’s tourism partner. Namibia is ready to do business and welcomes you with many opportunities!” He concluded. – musa@namibiadailynews.info
