By: Justicia Shipena
Pending investment laws may stifle Namibia’s efforts to attract foreign direct investment, according to Nangula Uaandja, Chief Executive Officer of the Namibia Investment Promotion and Development Board (NIPDB).
In an interview with Eagle FM, Uaandja stated lack of policies is a constraint and a challenge.
She said the NIPDB has informed policymakers about this situation.
“I think I won’t be honest if I don’t say policy is a constraint and a challenge. It is something that we have communicated with the policymakers,” she said.
Despite these constraints, Uaandja stated her board has been working with policymakers on measures affecting investment for the past two years.
“We have been engaging and we are making progress. Of course, the progress is not as speedy as investors or the private sector would like it to be, but definitely we are making good progress.”
Uaandja went on to say that in the next 12 months, Namibia might see considerable development in terms of policy implementation.
With these policies, she is of the view that domestic and international investors will be fighting for business.
“You don’t want to rush a policy that looks on one side. You want to make sure that you have got input from all stakeholders and the decision you make as policymakers covers the interest of both parties,” Uaandja said.
The CEO also addressed investment interests in the renewable sector, stating Namibia is one of the few nations in the world endowed with renewable resources.
In this regard, Uaandja pointed out that Namibia has an abundance of solar and wind resources, which is assisting the country in becoming one of the top five of nations in the world that can produce green hydrogen at a competitive price.
According to her, Namibia is receiving attention from the United States, Japan, the European Union, South Korea, and other countries across the world.
As a result, she believes Namibia is at a tipping point, with the potential to eradicate energy poverty not only in Namibia and SADC, but globally as well.
“We are seeing a call for projects. There is significant interest in the investment in the renewable sector. In our pipeline, we have got a number of projects on renewable energy.”