Namibia’s Profile Under Spotlight

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By Wezi Tjaronda WINDHOEK A two-member team of the World Investment News Ltd is in the country to compile an international business report on Namibia. It is expected that the country profile will be an investment guide of investment opportunities on Namibia. The profile, a special advertising section, will be distributed in the near future in an issue of US News and World Report Magazine. The country profile also includes profiles of some of the important companies in a country. According to Jorge MachÃÆ’Æ‘Æ‘ÃÆ”šÃ‚­n, World Investment News Country Report Manager, a country report analyses investment opportunities as it is “read by people who could go to a country for investment opportunities,” he told New Era yesterday. The report, whose focus will be on the country’s main sectors including tourism, mining, agriculture, fishing, energy and telecommunications, is expected to be published later in June this year, ahead of the international tourism meeting to be held in Windhoek later this year. The team, which usually compiles reports on a country on invitation, was invited to Namibia by the country’s Ambassador to the European Union, Professor Peter Katjavivi, after he read a profile of neighbouring Angola, which was published in 2005. The title of the report will be Namibia: Vision 2030, A New Era for Namibia after 15 years of Independence. A pre-report describes Namibia as one of Africa’s most stable and competitive environments, which has an ambitious programme “Vision 2030” whose main objectives are poverty alleviation, employment creation, regional development, the spread of HIV and economic empowerment. In order to ensure all their objectives, the government direct policies and programmes to ensure micro and macroeconomic policy management. It says the country is committed to attracting direct foreign investment and regards investment promotions as one of its priorities. “It is important for the Republic of Namibia to promote itself as the preferred investment destination. There is a wide range of investment opportunities in all sectors of the economy, most of which promise good returns on capital. Certain incentive regimes are designed to give the competitive edge to Namibian-based entrepreneurs,” the pre-report adds. Some of the areas that will be covered in the report include Government, Vis a Vis Vision 2030. Other sectors in which the pre-report has identified investment opportunities, are in mines and energy in the discovery of new minerals and increasing offshore mining. It also identifies fisheries as having investment opportunities especially in the development of aquaculture, developing cultural tourism and the Green Scheme in the agriculture sector among others. So far, the World Investment News has compiled country reports on 70 countries worldwide. The company is based in New York, USA, Paris, France and Madrid, Spain.