Millionaire Huang plans to invest more in Namibia

11 Feb 2017 10:20am




WINDHOEK, 11 FEB (NAMPA) – Chinese millionaire Jack Huang, implicated in the alleged N.dollars 3.5 billion tax evasion, fraud and money laundering case, said he is committed to investing and doing more business in Namibia. The owner of Windhoek’s China Town business complex said this during a media conference in the capital on Friday. Huang said while investing in available business opportunities in the country, he will contribute a substantial amount of his profits to the overall welfare and development of Namibian society. In particular, Huang said he will continue to support welfare causes such as sponsoring Namibian students in medical studies and other fields. Huang is the founder of the Namibia China Loving Heart Organisation, a charity organisation through which he has provided a number of scholarships to needy Namibians. The Chinese millionaire said over the past few years, he has ploughed back some of the profit of his group of companies to help academically capable Namibian youths to study medicine in China. Shedding light on the alleged “groundless but serious accusations” that landed him in court at the beginning of February this year, Huang said the accusations have caused a lot of damage to his reputation as well as to the name of his business entity. “I, hereby, solemnly declare that I have always complied with Namibian laws and regulations and operated in the country lawfully in the past, undoubtedly at the present moment and will continue to do so in the future.” Huang emphasised that he is a businessman and investor and is not involved in politics. Various media reports have referred to him as a friend of President Hage Geingob. Huang stressed that he has so far invested considerably in property development, commercial malls and manufacturing in Namibia, with plans to expand through partnerships with Namibian entities. He also plans to set up a vocational educational training institution at Oshikango in the Ohangwena Region. He noted as a businessman, his wishes are merely that the Namibian government, media houses and people will continue providing investors with a sound environment for them to do business in a mutually beneficial way. In respect of his much-talked about friendship with President Geingob, Huang said “in our Chinese culture and belief everyone is a friend, whether he or she is a person occupying a high or low position, and we accord them similar respect and courtesy”. In conclusion and after having obtained expert legal advise in Namibia and South Africa, he said he has confidence in Namibian courts and is certain that the legal system will eventually “absolve me of what I have been wrongly accused of”. He is out on bail of N.dollars 1 million and is expected in the Windhoek Magistrate's Court next Thursday. He is charged along with Namibian businessman Laurentius Julius and countrymen Tao Huizong and Jinrong Huang. (NAMPA) SKE/LI/AS



Picture Credit (NBC at https://www.nbc.na/news/chinese-millionaire-jack-huang-granted-bail-fraud-case.2410)