President Hage Geingob says the Namibia Investment Promotion and Development Board (NIPDB) must not be charged harshly in its formative years but be given a chance to fulfill its mandate.
Since its establishment in November 2020, the NIPDB was met by mixed reactions, with critics saying it is nothing short of worsening the already bloated public wage bill and duplication of trade and industry ministry.
Speaking here on Tuesday when the board met him to present its 24-month strategic plan at State House, Geingob said its creation was informed by extensive research and best practices.
“Namibians are not satisfied easily. [But] I am thanking you for what you have done in a short period,” Geingob said.
At the heart of the board’s mandate is answering how its work will narrow the gap between the filthy rich and the extremely poor.
“How do we address inequality? People are saying we are rich but we are among the most unequal [societies] in the world. What are you offering to address inequality?” Geingob put to the board’s chairperson, Nangula Uaandja.
From Geingob’s vantage point, the board has his full support and hopes that other stakeholders throw their weight behind it.
“Give us a chance. If we fail, then you can say that we told[warned] you that you were duplicating roles. Give us a chance. Let us not be judged from the beginning,” he said.
The president then instructed the Uaandja-led board to ensure that there is no duplication of roles between it and other government ministries, offices and agencies.
He also took issue with Uaandja’s team, which is composed of five executives.
“[Are] you starting a new bureaucracy? How do you justify this [team]? You were hired because you had skills. We took you from the private sector, but now you are hiring other people,” Geingob said.
On her part, Uaandja agreed with Geingob’s assessment but assured him that there are no overlapping of roles.
Uaandja added that inequality is directly linked to the level of education, noting that at least 80 per cent of employed Namibians have a grade 12 certificate qualification below that. This translates into poor salaries.
For Namibia to attract foreign direct investment (FDI), it must create a conducive environment for doing business, she said.
Out of 190 countries, Namibia is ranked 104th on the ease of doing business scorecard, which Uaandja identified as an area where improvements can be made to emulate its peers such as Rwanda [38] and Mauritius [13th].
Other countries that Namibia intends to emulate on the investment front are Botswana, Singapore and Ethiopia.
NIPDB was established to, among other functions, to promote and facilitate investment, review and propose policy reforms and collaborate with stakeholders to stimulate growth, expansion and development of the economy.
Source: Namibia Press Agency
