Namibia economic summit targets N$15b investments

By Hilary Mare

THE 2019 Namibia Economic Summit announced by President Hage Geingob during the last State of The Nation Address is expecting to attract new investments worth US$1 billion (N$15 billion) by both local and foreign investors over the next two years.

The summit will take place from 31 July 2019 to 1August in Windhoek and about 600 delegates from across the country, Africa and the world will be invited to attend the event.

“It is expected that with these new investments, would contribute towards economic revival and create new employment opportunities,” a statement released by the Ministry of Information and Communication Technology (MICT) this week said.

The two-day-event under the theme : “Economic Revival for Inclusive Growth- Strengthening the Namibian House” is aimed at reviving and growing the Namibian economy, creating job opportunities, attracting investment opportunities, promoting Namibia as an attractive investment and tourist destination and identifying and removing bottlenecks that are slowing the growth of the local economy .

The Summit organised by the High-Level Panel on the Namibian economy targets to attract local, regional and international investors, private sector, development partners, financial institutions, industry leaders, the youth and organized labour.

The Summit will provide a platform to showcase growth and investment prospects in the local economy as well as present local and international investors with a portfolio of investment projects in several sectors. It will also be a platform for information exchange and dialogue between governments, local and international business and civil society leaders and stakeholders.

Provision has been made for speakers as well as panel discussions to debate topical issues on the growth of the Namibian economy to address poverty, inequality and unemployment. This is a genuine effort on the part of the Government to augment and supplement interventions aimed at growing the local economy.

The Summit also provides for concurrent breakaway sessions to debate Public-Private-Partnerships to revive the construction sector, investment in infrastructure projects to help stimulate growth, employment creation, manufacturing and unlocking agriculture towards sustainable food security and job creation.

The Summit programme for the two days will be released in two weeks’ time.

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