The Cabinet has approved Namibia’s National Upstream Petroleum Local Content Policy as the framework to promote local participation and development in the country’s upstream petroleum sector.
The policy seeks to maximise Namibian participation across the petroleum value chain, with a focus on employment creation, local procurement, enterprise development, technology and skills transfer, research and innovation, and increased ownership and participation by Namibians.
The decision was taken at the 25th Cabinet meeting held on 4 August.
Cabinet spokesperson Emma Theofelus announced it on Friday.
She announced the approval of the establishment and operationalisation of the Public Assets Management Agency of Namibia (Pama) as a public company with limited liability under the Companies Act, with the government as its sole shareholder.
Pama is intended to be a strategic entity responsible for ensuring transparent, efficient and effective management of the country’s commercial public assets.
“Cabinet further endorsed the report on president Netumbo Nandi-Ndaitwah’s state visit to China from 6 to 10 July, directing relevant ministries and agencies to develop implementation plans for proposed areas of cooperation,” she said.
The visit reportedly strengthened Namibia-China relations, with a greater focus on industrialisation, local value addition, employment creation, skills development, technology transfer and export diversification.
The Cabinet further endorsed the report on the Namibia-South Africa Bi-National Commission, and directed government institutions to implement agreed decisions and report progress at the 2027 mid-term review.
In addition, the commencement of Namibia’s national process to ratify the African Continental Free Trade Area (AfCFTA) phase two protocols on investment, competition policy, digital trade, intellectual property rights, and women and youth was also approved.
The 26th Cabinet meeting further considered regional cooperation, peace and security, and the proposed National Day of Prayer on 12 September.
