SHANGHAI – Political stability, functioning systems, institutions, law, order and a vibrant tax regime are but a few of the features that position Namibia head and shoulders above most countries as an ideal investment location.
This is what sums up the position of Uaisana Patoko, a senior official from the Ministry of Trade and International Relations.
Patoko leads the Namibian delegation at this year’s China International Expo (CIIE) underway in Shanghai, which will conclude today.
On the sidelines of the expo, New Era visited the Namibian pavilion, where a variety of local products and services were on full display. “Namibia is a gem worth investing in. As you know, our economic and political climates are very conducive for business people; that’s why we are saying Namibia is worth investing in and conducive for investors from all over the globe,” Patoko wooed investors.
From tourism, mining, energy resources, creative industry, culture, and food to local beverages, they stood out among thousands as uniquely Namibian. Patoko and his team engaged the who’s who of global trade and investment, advocating for and positioning in their minds how investing in Namibia would be ideal for their businesses.
“We have brought Namibian products and companies. As you can see, different sectors are represented here: agriculture, our tourism industry, mining, the creative industry and our craft,” he said.
Asked how Namibian products end up on global stages like the CIIE, Patoko said it was open to every entrepreneur. “The Ministry of International Relations and Trade is there for our business people; our Namibia Investment Promotion Board (NIPDB) is also there. We also have an embassy here (in China). We advise our people to link up with our embassy and vice versa. The Chinese people who are interested in doing partnerships with Namibian companies can also visit our mission here and can be linked, and the NIPDB can guide them on how to go about it,” he said.
This year, instead of the massive delegations that the NIPDB has been accused of sending to investment summits and expos, only the economic attaché based at the Namibian embassy in Beijing represented the board.
This was done to cut unnecessary expenditure, New Era was made to understand.
Moreover, Patoko dismissed assertions by certain quotas that attending events such as the CIIE was a waste of taxpayer dollars. “There are significant benefits, but you must be a bit patient. Like they say, ‘Rome was not built in one day.’ For platforms like these, it’s not always that you will be fortunate enough to sign a deal at the same event. But because of this event, it might lead up to further discussions and talks, and after some months or years, you might end up in a joint venture,” he said.
International
Additionally, the CIIE is not limited to Chinese investors only. This year’s exhibition is being held on 430 000 square metres at the National Exhibition and Convention Center in Shanghai, and 449 500 professional visitors have registered.
As anticipated, innovation is at the heart of this year’s expo, with over 460 new products, technologies and services, including low-altitude economy and humanoid robots.
Roughly 23 000 overseas exhibitors have participated in the past seven editions, showcasing around 3 000 new products, services and technologies.
“This is an international platform. There could be business people from other countries that pass by [our pavilion] and see your products and might afterwards start ordering from you or produce with you in the future. This is for your business to be known,” he said.
He added, “Networking is very important. When you are here, it’s not only about promoting your products but also about seeing what others are doing [benchmarking] so that you can learn how to improve your products and diversify because here, there is a diversity of products and investment opportunities.”
The expo saw 4 108 exhibitors from 155 countries, regions and international organisations participate in national and corporate exhibitions.
The expo further seeks to reaffirm China’s commitment to opening its markets while promoting trade and investment.
Through the CIIE platform, more than US$500 billion worth of deals and investment have been delivered.
Since 2018, the CIIE has promoted international procurement, investment, people-to-people exchanges and cooperation.
Commentary
The trade fair also showcases China’s firm commitment to opening up, shared growth, and building a fairer international trade order amid uncertainties stemming from rising unilateralism and protectionism, experts have said. “The expo provides a vital platform amid global economic uncertainty and tense trade conditions,” Jacopo Vicini, deputy mayor for economic development of the Italian city of Florence, said in a recent interview with Xinhua.
Bosnian economist Igor Gavran has observed that “the openness of the Chinese market stands in sharp contrast to the growing protectionism in some Western countries.” Amid sluggish global trade, he said, “China has continued to open its doors wider, sharing the fruits of its development with the world.”
“Over the years, the expo has grown in stature, facilitating global products’ entry into the Chinese market and promoting coordinated regional growth worldwide,” said Sergei Vergeichik, an analyst at the Belarusian Institute for Strategic Research, noting China’s vast, open market that shares economic dividends with partners.
The expo creates numerous opportunities for businesses of all sizes to access the Chinese market, helping open new markets and business channels, said Alexis Bih, a Côte d’Ivoire economic expert, who views the CIIE as part of China’s actions and initiatives that “serve as crucial strategic levers for pulling the global economy toward recovery.”
“The international community has high expectations for this year’s CIIE, hoping it will further strengthen its role as a platform for international economic cooperation,” he said.
Highlighting the CIIE’s vital strategic role in fostering cooperation, Bih said that as “a leading global exporter and importer of goods, China continues to streamline global supply chains and has become a central driver of world trade.” -Additional reporting by Xinhua.