Namibia sets N$254bn FDI goal
Namibia is targeting N$254 billion in foreign direct investment (FDI) as the government seeks to attract more capital into the economy and increase exports to N$168 billion.
Deputy international relations and trade minister Jennely Matundu disclosed the targets in the National Assembly while responding to questions from Independent Patriots for Change (IPC) MP Rodney Cloete about the ministry's contribution to investment attraction and job creation.
Matundu said the ministry's work to strengthen trade relations, promote exports and attract foreign investment contributes to the country's broader employment and development targets.
She said the government is targeting N$254 billion in FDI and N$168 billion in exports, highlighting the scale of investment and trade growth Namibia is seeking.
Matundu also disclosed that 28 projects facilitated through the ministry's investment promotion activities had attracted N$66.85 billion and created 9,343 jobs.
Agriculture accounted for 11 projects, which attracted N$4.67 billion and created 2,142 jobs, she said.
Mining and related industries accounted for seven projects, attracting N$18.25 billion and creating 2,910 jobs.
Erongo was a major destination for mining-related investment, with five projects accounting for N$10.99 billion and 2,080 jobs.
Matundu did not identify the individual projects in her oral response, but said a detailed breakdown of the projects and jobs would be provided to Cloete.
She stressed that the ministry does not directly create most of the jobs attributed to the investments. Instead, it facilitates policies, trade relationships, market access and an investment environment aimed at attracting capital and stimulating domestic production.
Trade bill coming
Matundu also told Parliament that the International Trade Management Bill is expected to be tabled in the National Assembly next month.
The proposed legislation is intended to strengthen the regulatory framework for managing Namibia's imports and exports and supporting domestic industries.
She said the ministry is also working on investment policy and regulatory measures aimed at supporting investment and employment.
Matundu said bilateral agreements and efforts to expand market access are expected to stimulate production in Namibia and create further employment opportunities.
The ministry also monitors investment, export and employment performance with other government institutions, including the Namibia Statistics Agency.
Matundu said senior officials and heads of Namibia's diplomatic missions are held accountable for performance indicators and targets contained in the ministry's strategic plan.
