Namibian stand draws lots of attention in UAE

09 Apr 2014 08:50am
DUBAI, 09 APRIL (NAMPA) - The 2014 Annual Investment Meeting (AIM) currently underway in Dubai drew a strong delegation from the Namibian Trade and Industry Ministry, as well as other government institutions and private businessmen and women.
During the opening ceremony on Tuesday, the United Arab Emirates’ Minister of Economy, Sultan Bin Saeed Al Mansoori said the idea of this conference is to bring together countries and investors to improve the lives of others.
“We believe that it’s through our joint efforts that we can build a better world to improve the lot of our people through great attractions and understanding, and develop new partnerships and investments”, he noted.
Al Mansoori also expressed his concern that once an investor starts operating in some countries, the conducive environment which initially drew the investor there, changes.
When approached by Nampa about Namibia’s investment climate, Deputy Trade Minister Tjekero Tweya - who is heading a strong Government and business delegation to Dubai – told Nampa that investors are looking for more than just a conducive environment to invest in.
“An investor looks at the predictability of a country’s political and economical situation, while he also looks at the socio-economic situation.
If I look at Namibia, we meet all the requirements for an investor, and yet we do not have all the investors we need. It is all about what the investor wants and needs”, Tweya explained.
Furthermore, conditions can be horrible in a country, but if investors need your uranium, they will come to your country.
The opposite is also true, he added.
“No matter what beautiful conditions you have, and if you do not have schools for their children, a place where they can do their shopping or a place they can travel to, investors will not come to your country. Investment is more than business, it is about relationships”, he continued.
Investors are in places like Afghanistan and other African countries where there is conflict, so it is all about what the investors really want, the politician stated.
Tweya also expressed his satisfaction about the business delegation attending the AIM, saying it gives them the opportunity to find out for themselves what investors look at before signing a deal to invest with Namibian business people.
“This is an ideal platform for them to understand why investment is perhaps not coming their way, the way they present themselves and the interest that potential investors are looking at”, he told this reporter.
Meanwhile, the Namibian stand drew a lot of attention, and was visited by several high-ranking government officials and investors from various countries and companies, who showed interest in the desert country as a potential place to invest in.
The meeting sees at least 120 countries, with an estimated 10 000 potential investors from across the globe, gathered here.
It will come to an end on Thursday.
The event was also attended by the vice-president of the United Arab Emirates and Prime Minister and Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum.