Windhoek: The Namibia Investment Promotion and Development Board (NIPDB) says small and medium enterprises (SMEs) must play a central role in unlocking economic benefits from the country's emerging oil and gas sector. The remarks were made during the Upstream Oil and Gas Local Suppliers' Workshop on Tuesday, which brings together government, industry players, and financial institutions to engage local businesses on opportunities in the petroleum value chain.

According to Namibia Press Agency, Executive Director for Micro, Small and Medium Enterprises (MSME) at NIPDB, Peter Shivute, said Namibia remains an attractive investment destination due to its stable regulatory and political environment. 'We are very lucky in Namibia to have an opportunity, a regulatory environment, and a politically safe space to work,' he said. Shivute said emphasis should be placed on ensuring that international investment translates into tangible benefits for local businesses. 'It's about how you localise that international investment and actually participate in the whole value chain and absorb people in terms of job creation,' he added. He noted that while opportunities exist across multiple sectors, businesses must meet strict global standards to participate effectively.

Meanwhile, the Standards Developing and Training Officer at the Namibia Standards Institution (NSI), Mukuao Kaune, said compliance with standards is critical for industry competitiveness. 'A standard is just an agreed way of doing things,' he said, noting that the use of internationally recognised standards enables local products and services to access global markets. 'If you are using a standard which is not internationally accepted, you will have a problem when you export that product,' he explained.

The two-day workshop focuses on procurement processes, compliance requirements, and access to finance as Namibia prepares for key investment decisions in the oil and gas sector.