Foreign investors can trust local institutions: Geingob

08 Nov 2016 13:10pm
WINDHOEK, 08 NOV (NAMPA) – Today’s investors are not old-fashioned who come to exploit a country’s resources and go back to their country, but are there to create a win-win investment for both countries, President Hage Geingob has said.
Speaking during the opening of the Invest in Namibia international conference in Windhoek on Tuesday, Geingob assured foreign investors that they can put their trust in local institutions, adding that Government would welcome these investors.
The two-day conference is being held under the theme ‘Promoting Investment for Inclusive Growth and Industrialisation'.
He said infrastructure in the country is in line with international standards, including the country’s medical standards and hospitality industry, which makes Namibia a conducive environment for investment.
Macro-economy stability is also in place, which include robust economic growth despite a decrease recorded this year, good governance, a good banking system, and natural resources.
However, good governance and resources alone will not put food on the table for the country’s people, hence the need to involve the international community, Geingob added.
However, taxes and royalties would be applied as a form of conducive investment planning which in turn will create income to build schools and address other developmental needs in the country.
Namibia has one of the highest inequality rates.
“We cannot live in a Namibian house where children are hungry; an unequal society cannot prosper, therefore, if you have wealth, you must share it with others,” he stated.
He also extended an invitation to both local and international business investors to visit State House. However, business plans and tenders would not be entertained as these should rather be discussed with the trade and industrialisation ministry.