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Schlettwein calls for foreign direct investment

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(Globalpost/GlobalPost)

Trade and Industry Minister Calle Schlettwein called for foreign direct investments that helps to boost the capacity to produce more efficiently and competitively through the introduction of appropriate production technologies and technical know-how.

Schlettwein said this in the statement read on his behalf by Deputy Permanent Secretary Nghidinua Daniel during the China-Namibia Business Forum in the capital on Wednesday.

“We need foreign direct investment (FDI) that will help us to add value to our natural resources, so that we can export value added and manufactured goods that will fetch higher prices and also create more jobs than it is the case when we export raw materials,” he said.

Schlettwein added that foreign companies also have a better chance to leverage on their market connections back home and elsewhere, thereby helping the exports.

The minister said Namibia do welcome foreign direct investment and trade arrangements that do not crowd-out domestic investment and bring about unfair competition to local traders, but FDI that rather complements what the country do have and need.

As a minister responsible for spearheading and creating the necessary environment for trade, investment and industrial development in Namibia, Schlettwein said he is re-focusing the attention and work of the ministry toward achieving ‘growth at home’.

Thus, he urged private sector and all players in the trade and industry sector to come on board on this journey towards achieving accelerated and sustained economic growth and to ensure that the impact of work is visible through tangible improvement in the socio-economic welfare of the citizens of the country.

“In our drive to create an investor-friendly environment, we also recognize that physical infrastructure is the wheel of economic activity,” Schlettwein said.

He stressed that the government directly and through public institutions has made and continues to make huge investments into the expansion and modernization of road, rail, harbor, air and telecommunication infrastructure.

The minister said the main thrust of the infrastructure development programmes is to turn Namibia into a major gateway to and from Southern Africa so that investors in Namibia and elsewhere in the region can conduct their business and access their market easily and cost effectively through Namibia.

He stressed that the efficient deep water harbor of Walvis Bay and the Trans-Caprivi and Trans-Kalahari Highway linking Namibia to its land-locked neighbouring countries of Botswana, Zambia and Zimbabwe, rounds off Namibia’s appeal as a gateway location for imports and exports.

“I re-affirm the commitment of the government towards maintaining a business friendly environment in the country and to provide the necessary support and safeguards to investors, both domestic and foreign,” Schlettwein said.

The one-day forum was organized by Namibia Chamber of Commerce and Industry (NCCI) in conjunction with China Council for the Promotion of International Trade (CCPIT).

(edited)WINDHOEK: Trade and Industry Minister Calle Schlettwein has called for foreign direct investment (FDI) that would help boost Namibia’s production capacity through the introduction of appropriate production technologies and technical know-how.

Schlettwein said this in a statement read on his behalf by Trade and Industry Deputy Permanent Secretary Nghidinua Daniel during a China-Namibia Business Forum held in the capital on Wednesday.

“We need foreign direct investment that will help us to add value to our natural resources so that we can export value-added and manufactured goods that will fetch higher prices, and also create more jobs than is the case when we export raw materials,” he noted.

Schlettwein said foreign companies also have a better chance at leverage through their market connections back home and elsewhere, thereby helping these exports.

The minister said Namibia welcomes FDI and trade arrangements which do not crowd out domestic investment and bring about unfair competition to local traders, as well as FDI that complements what the country has and needs.

As a minister responsible for spearheading and creating the necessary environment for trade, investment and industrial development in Namibia, Schlettwein said he is refocusing the attention and work of the ministry towards achieving “growth at home”.

He thus urged the private sector and all players in the trade and industry sector to come on board on the country’s journey towards achieving accelerated and sustained economic growth, and to ensure that the impact of their work is visible through tangible improvements in the socio-economic welfare of the citizens of the country.

“In our drive to create an investor-friendly environment, we also recognise that physical infrastructure is the wheel of economic activity,” Schlettwein said.

Government, directly and through public institutions, has made and continues to make huge investments in the expansion and modernisation of the road, rail, harbour, air and telecommunications’ infrastructure.

The main thrust of this infrastructural development programmes is to turn Namibia into a major gateway to and from southern Africa so that investors in Namibia and elsewhere in the region can conduct their business, and access their markets easily and cost-effectively through Namibia.

The efficient deepwater harbour of Walvis Bay and the Trans-Caprivi and Trans-Kalahari Highways linking Namibia to its land-locked neighbouring countries of Botswana, Zambia and Zimbabwe rounds off Namibia’s appeal as a gateway location for imports and exports.

“I reaffirm the commitment of the government towards maintaining a business-friendly environment in the country, and to provide the necessary support and safeguards to investors, both domestic and foreign,” Schlettwein stressed.

The one-day forum was organised by the Namibian Chamber of Commerce and Industry (NCCI), in conjunction with the China Council for the Promotion of International Trade (CCPIT).

The event was attended by a visiting Chinese delegation and Namibian business owners.

http://www.globalpost.com/dispatch/news/asianet/130406/schlettwein-calls-foreign-direct-investment