Namibia Looking for Chinese Investors

XIAMEN-Namibia is looking for investment in the areas of manufacturing, tourism, agriculture and mining to help grow the economy and create job opportunities.

The chief trade promotion officer in the Ministry of Trade and Industry’s Namibia Investment Centre, Oscar Sikanda said this while making a presentation on Namibia’s investment climate during the 18th China International Fair for Investment and Trade (CIFIT) this week.

The event is being held under the themes ‘Introducing Foreign Direct Investment’ and ‘Going Global’.

Sikanda said the investment opportunity in manufacturing mainly focuses on the area of value addition for domestic, regional and international export markets. He added that mining is ranked the second best investment destination for mining and exploration in Africa.

“Namibia is looking for potential investors to explore mining processing, set up manufacturing plants and export the final products,” Sikanda said.

Other areas where investment are needed are agro-processing, while Namibia also needs investors in the fishing industry for the processing of fish and the creation of more jobs in this industry.

He said the film industry in the country is also growing as a number of films have been produced there recently compared to previous years.

Namibia currently exports products such as fish, meat, live animals, beverages and minerals to various countries such as South Africa, Angola, the United States of America, Belgium, Canada and China.

The purpose of the 18th CIFIT is to highlight new trends in international investment cooperation, explore China’s strategy for developing emerging industries, and discuss hot financial and economic topics.

More than 900 participants from over 100 countries are taking part in this event. The CIFIT ends today.


Source : The Namibian