Industry

Namibia to present investment opportunities at Davos

Summary

President Hage Geingob on Sunday led a delegation to the World Economic Forum (WEF) Annual Meeting scheduled to take place from 22-26 May 2022 in Davos Klosters, Switzerland.WEF is an international organisation that was started with the aim to ‘improve…

President Hage Geingob on Sunday led a delegation to the World Economic Forum (WEF) Annual Meeting scheduled to take place from 22-26 May 2022 in Davos Klosters, Switzerland.

WEF is an international organisation that was started with the aim to ‘improve the state of the world’.

A statement issued on Sunday by the Namibia Investment Promotion and Development Board (NIPDB) noted that this is the first time Namibia will be attending the meeting, which is taking place under the theme ‘History at a Turning Point: Government Policies and Business Strategies’.

Geingob is expected to join over 2 000 leaders in Davos.

WEF brings together world leaders in business, politics, arts and academia amongst others to discuss major issues that impact the global economy.

According to the statement, Namibia’s agenda at WEF is to announce that the country is open for business and present high-value investment opportunities in identified sectors.

“It is also a platform to engage with potential investors with the aim of stimulating foreign direct investment needed to enable the country to build a strong, private sector-led economy and inclusive growth that drives employment creation and other economic opportunities for Namibians,” the statement noted.

NIPDB Chief Executive Officer, Nangula Uaandja is quoted in the statement as saying that Namibia has unlimited potential and holds economic promise for both investors and the country’s people.

“The high level of unemployment and sustained economic contraction, exacerbated by the COVID-19 pandemic accelerated the need for our country to boost investment promotion in order to stimulate economic recovery,” she added.

While showcasing the country’s green hydrogen potential certainly tops Namibia’s agenda at WEF, other key sectors have been specifically identified for investment promotion at the gathering, namely: infrastructure, transport and logistics, tourism, agriculture and oil and gas.

Source: The Namibian Press Agency