The Namibia Investment Promotion and Development Board (NIPDB) is in the process of opening a one-stop office to make the process of investing in Namibia easier, its Executive Director for Investments and New Ventures, Francois van Schalkwyk, has said.

Van Schalkwyk said this on Wednesday during a one-day investment policy and promotion seminar hosted by NIPDB and the World Bank Group in the capital.

He said the office is necessary to speed up the process for investors who want to invest in Namibia as NIPDB has observed that investors tend to pull out of investing because of the long and tedious process and requirements to invest in the country.

The project, he added, started around the end of 2022.

Also speaking at the event was World Bank economist Priyanka Khor, who said sustaining investors is not just about what a country does to attract investors, but also how they treat their investors during the investing process.

Chief Executive Officer of Rand Merchant Bank Namibia, Phillip Chapman agreed that Namibia should place itself in a position to attract more investors and become a competitive player.

“Capital from investors can go anywhere, thus we must be competitive as a country and look at ways to make it easier to invest in Namibia,” Phillip said.

The seminar brought together senior policymakers, development bank practitioners, and private sector stakeholders to explore dynamic global investment trends in investment policy.

Source: The Namibian Press Agency