ST. PETERSBURG – Vice President Nangolo Mbumba has invited Russian entrepreneurs and investors to Namibia as potential stakeholders in the development of mineral resources and the production of green hydrogen.
The VP extended these invitations last
week at the just-concluded Russia-Africa summit in St. Petersburg while addressing the business community who flocked into an ‘Invest in Namibia’ session in Russia
“Our country is venturing into the production of green hydrogen. Our ambition is to become the sustainable renewable
energy capital of Africa. So, we need the technical and financial support from partners,” Mbumba noted.
Moreover, the VP assured the audience that Namibia offers trade and investment opportunities in multiple sectors beyond energy. This, he said, ranges from tourism, mining, agriculture and agro-processing to transport and logistics, amongst numerous others.
“The key objective for Namibia is to leverage the existing capital-intensive industries to set the basis for effective diversification towards industries that can employ more of our young people with higher capabilities and jumpstart the Namibian economy,” the VP added.
From a government perspective, Mbumba said investors can be assured of political stability, market-responsive policies and legal frameworks, as well as a financial dispensation that allows full control of investors’ profits and businesses.
Mbumba further noted that Namibia stands ready to welcome investors and economic development partners: “We believe in shared values and are, therefore, committed to creating a conducive environment for mutual growth and prosperity. As vast as our dunes with their endless horizons, so is the investment potential in Namibia”.
Speaking to New Era on the sidelines of the two-day summit, Namibian Investment Promotion and Development Board (NIPDB) spokesperson Catherine Shipushu said the Namibian pavilion attracted a lot of attention at the summit.
“The interest has been very high, especially in the areas of energy, mining, tourism and education. So much interest for institutions who want to do business in Namibia and also in terms of creating trade linkages between Namibia and Russian businesses,” said Shipushu.