NAMIBIA has many advantages for investor confidence, but bad news and frustrating bureaucracy puts investors off, which has a negative impact on the struggling economy.
This was the view of industrialisation minister Tjekero Tweya at the opening of the 12th Erongo business and tourism expo at Walvis Bay on Wednesday.
“We go abroad to expose our country as a good investment location, and we invite investors. They are interested in what we have to say, but then it takes them 66 days to register their business in Namibia, in comparison to six hours elsewhere,” he lamented.
Tweya said Namibia is clear in what it wants, but lacks in the processes of implementation, admitting that public institutions and civil servants are to blame.
“We as leaders must make systems accountable, but we are not taking charge. We are not hands-on, and we leave the systems to operate by themselves,” he added.
He also criticised Namibian society for calling foreign investors “thieves and crooks”, which will result in these investors walking away to where they are appreciated.
Tweya then called for a change in the negative narrative of Namibia, as this was also not helping to attract investments.
“We go through a lot of trouble for investors to sign deals, not with the government, but with the private sector. They don’t know of us, and so they do not invest here. But once we expose Namibia, these investors can come and do business in our country,” he stated.
He said Namibia has peace and stability; a solid judiciary, and a reliable banking system; as well as state-of-the-art communication technology which connects Namibia to the world. There are also stable dry ports and roads linking Walvis Bay to the rest of Africa.
“We are also a trusted member of many economic blocks, while our weather is suitable for renewable energy projects, and the list goes on,” he said, urging Namibians to use the country’s strengths to remain competitive because others are also competing for the same investors.
Erongo governor Cleophas Mutjavikua likewise lashed out at the bureaucracy stifling development.
“Bureaucracy makes things very difficult in trade and development. It’s time we get serious, and push the agenda of implementation. People want us to move forward, so we must stop being stuck,” he said.
The expo was held at the Walvis Bay civic centre, and ended on Saturday.
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