By: Eba Kandovazu
The presidency has announced that Namibia has, for the first time, been invited to participate at the World Economic Forum (WEF) Annual Meeting scheduled to take place from Sunday to Thursday next week in Davos-Klosters, Switzerland.
This year’s theme is “History at a Turning Point: Government Policies and Business Strategies”.
The presidential press secretary Alfredo Hengari said President Hage Geingob will join over 2 000 leaders in the ski resort of Davos as he leads the Namibian delegation to one of the highest “profile meetings of global leaders.
“WEF is an international organization that was started to ‘improve the state of the world’. Headquartered in Geneva, Switzerland, WEF brings together world leaders in business, politics, arts and academia, amongst others, to discuss major issues that impact the global economy. These include but are not limited to political, economic, social, and environmental concerns. Participation at the WEF is by membership or private invitation-only,” press secretary Alfredo Hengari said.
Namibia attends following an invitation from Klaus Schwab, the Founder and Executive Chairman of the World Economic Forum, to showcase the Green Hydrogen potential and strategy.
“An invitation to Davos comes with immense benefits for Namibia, primarily to showcase the country’s investment potential to global leaders and some of the wealthiest nations and entrepreneurs in the world. Namibia’s presence at WEF underscores the country’s ability to contribute toward setting the international agenda, particularly in renewable energy, which underpinned the invitation to the Forum.
Further, the innovative ideas and best practices learned in Davos will be valuable for Namibia to improve her competitiveness in this modern economy,” Hengari said.
According to the World Economic Forum, the meeting embodies the Forum’s collaborative, multi-stakeholder impact philosophy, providing a unique collaborative environment to reconnect, share insights, gain fresh perspectives, and build problem-solving communities and initiatives.
Hengari says it will be the starting point for a new global responsibility and cooperation era.
“WEF mentioned in a statement that some of the topics to be discussed at the annual meeting will include the restoration of global order and regional cooperation, securing the economic recovery and shaping a new era of growth, building healthy and equitable societies, safeguarding climate, food and nature, driving industry transformation, and harnessing the power of the fourth industrial revolution.
“Namibia’s Agenda at Davos Namibia is headed to Davos with a clear agenda to announce that the country is open for business, present high-value investment opportunities in identified sectors and engage with potential investors to stimulate foreign direct investment needed to enable the country to build a strong, private sector-led economy and inclusive growth that drives employment creation and other economic opportunities for Namibians. “As an emerging market, Namibia has unlimited potential and holds economic promise for both investors and the country’s people,” he stressed.
Meanwhile, Nangula Uaandja, the Chief Executive Officer of the Namibia Investment Promotion and Development Board, says high unemployment and sustained economic contraction, exacerbated by the Covid-19 pandemic, have accelerated the need for Namibia to boost investment promotion to stimulate economic recovery. She will be facilitating Namibia’s participation.
“The World Economic Forum brings together influential figures, key decision-makers, and some of the biggest investors worldwide. We are going there with a clear and collective objective of harnessing the opportunity to make a case for why Namibia is a viable investment destination. Foreign direct investment is crucial because it can help the country deliver sustainable economic growth and opportunities for all Namibians,” Uaandja said.
Hengari stressed that While showcasing the country’s green hydrogen potential certainly tops Namibia’s agenda at WEF, other vital sectors had been identified explicitly for investment promotion at the WEF. These are infrastructure, transport & logistics, tourism; agriculture; and oil & gas. Several high-level events have been planned to showcase these sectors to potential investors. These include positioning the country as a strategic logistics hub that serves as a gateway to SADC and unveiling several large infrastructural projects to domestic and foreign investors.
The Namibian delegation consists ministers, senior government officials and private sector representatives, including the governor of the Bank of Namibia, state-owned enterprises’ CEOs and senior officials of four large current players in Namibia private sector companies and Hyphen, the preferred bidder for the country’s first large scale Green Hydrogen project.
Hengari said the private sector is poised to play a significant role in accelerating the country’s economic recovery and growth through smart partnerships and collaboration with the government that will yield significant results, including creating much-needed jobs.”
According to Hengari, those invited from the private sector are from finance, tourism, logistics and infrastructure construction.
“The Namibian economy needs a catalyst to drive recovery and growth as the ripples of economic uncertainty continue to be felt across the country. Foreign trade and direct investment are currently the most viable lever the country can leverage to unlock sustainable economic opportunities that make prosperity a real possibility for all Namibians today and for generations to come. The World Economic Forum presents an enormous opportunity for Namibia to secure these investment opportunities that will make economic growth a reality and improve the quality of life for Namibians,” Hengari added.
