Geingob showcases NamibiaTime to do business, urges Geingob President Hage Geingob recently visited France where he sought to strengthen relations between Namibia and France. President Hage Geingob jetted off to France early this week on a state visit to his counterpart, French president François Hollande. Geingob used the same occasion to try and woo the French business community in an effort to get more foreign direct investment.
Said Geingob: “We are delighted to see that a number of French companies are already doing business in Namibia.
Their investments have created jobs and transferred technology and expertise.
These include, for example, the development of the 4.5 megawatt Omburu solar plant in Omaruru by InnoSun which was completed in April 2015.
A second solar plant is being developed in Okahandja with a capacity of 4.5 megawatt by the same company while the company is also planning to set up a 150 megawatt wind farm in one of our national parks.”
Geingob said other investments by the French companies had been made in the tourism, mining, services and retail sectors.
Said Geingob: “As you have successfully done in France, we want to develop our manufacturing capabilities to become the backbone of our economy.
We are, therefore, eager to learn from you about the development of labour-intensive industries.
“Our main focus is on value addition.
We believe that by adding value to our natural resources, Namibia will be able to increase its industrial output and thereby increase its exports of finished and high-quality goods to regional and international markets.
“For this purpose, we have developed the Growth at Home Strategy, which aims to place emphasis on commodity-based industrialisation through the strengthening of local and national value chains.”
Putting potential investors at ease, Geingob said: “We understand that foreign direct investment will not come into the country without a globally competitive business environment.
“We have made significant efforts to address a number of bottlenecks in the business environment, including removing the red tape and simplifying the business registration process.
“Most importantly, we have enacted the Investment Promotion Act that provides for, among others, investor incentives and protection, as well as provisions of dispute resolution mechanisms in the event of a dispute over an investment.”
Concluded Geingob: “We aim to achieve this through partnerships with the business community of France, through the establishment of win-win partnerships.”
STAFF REPORTER