Namibia’s foreign investment net inflow increases

26 Jul 2016 16:00pm
WINDHOEK, 26 JUL (NAMPA) - Namibia’s foreign direct investment net inflow increased from N.dollars 1.2 billion in 2004 to N.dollars 3.7 billion in 2015.
Minister of International Relations and Cooperation Netumbo Nandi-Ndaitwah announced this while doing a presentation on the topic ‘Namibia’s Image’ during the five-day Foreign Policy Review conference here on Monday.
Her presentation focused on Namibia’s engagements at regional and international level, and how such engagements contribute to raising Namibia’s image globally.
Nandi-Ndaitwah said investment in Namibia was recorded in areas such as agriculture, farming, tourism, services, manufacturing and trade.
Over 4 000 jobs have been created.
Tourist arrival figures, specifically, increased from 716 078 in 2004 to 1 320 064 in 2014.
Nandi-Ndaitwah, who is also Deputy Prime Minister, said Namibia’s agenda is to turn the country into an industrial nation by 2030, thus economic diplomacy continues to be a major element in its international relations and cooperation.
“Globalisation has introduced new technologies which business people, academics and other non-State actors use to transact business activities around the world,” she said.
The minister applauded Namibia’s diplomatic missions for their continuous engagement with foreign investors which aids the transformation of the local economy through value addition to natural resources, the creation of employment, and contributes to the development of human resources through the transfer of skills.
Namibia is represented abroad through 30 missions and three consulates, while 32 diplomatic missions, 18 regional and international organisations and 25 foreign honorary consulates are presented in Namibia.
On multilateral forums, Nandi-Ndaitwah said Namibia has been a member of major international organisations and often takes huge responsibilities in the Southern African Development Community (SADC) region, such as hosting the Regional African Bureau of the Green Climate Fund this year.
The deputy PM said Namibia has played a significant role in driving the SADC integration agenda aimed at removing trade barriers and facilitating free movement of goods and services in the region with the objective of eradicating poverty.
Namibia has played a role in conflict management, provided leadership in resolving conflict in Madagascar, and contributed to the United Nations (UN) peacekeeping missions in Liberia, East Timor and Darfur.
Nandi-Ndaitwah said the country has strived, in collaboration with other countries of the global community, to ensure good faith and mutual respect in multilateral negotiations, with a view to adopt collective actions for the enhancement of global peace.
“Through this review conference, we are evaluating Namibia’s bilateral and multilateral engagements, assessing their viability, and also identifying possible shifts in our international cooperation.
“Our aim is to accrue maximum benefit from engagements, in line without Vision 2030, the National Development Plans, Harambee Prosperity Plan, SADC Integration Agenda, African Union Agenda, and the 2030 Development Agenda of the UN,” she said.
The Namibian Foreign Policy document, known as the White Paper on Namibia’s Foreign Policy and Diplomacy Management, was adopted in 2004.
The conference brings together Namibian diplomatic missions, government ministers and civil organisation representatives.
It ends Friday.