Roundup: Namibia seals deals with foreign investors at key investment event

Agreements were signed with foreign businesses during a two-day conference meant to attract foreign investors into partnerships with Namibian entities in the fields of energy, agriculture, tourism, water and road infrastructure.

The Invest in Namibia conference that opened Tuesday and ended Wednesday was attended by more than 1,700 delegates from more than 20 countries including the United States, China and Germany.

During the conference, ministers responsible for industrialization, agriculture, finance and environment had meetings with various business delegations and discussed potential projects, prospects and policy matters.

A communique issued by the trade ministry and seen by Xinhua Thursday, showed that the China Sun Group is exploring opportunities with the City of Windhoek and Rundu Town Council on servicing land and building low-cost houses.

MK International, a South Korean company, signed a joint venture agreement with Otavi Rebar Manufacturing, a public private partnership for Otavi Town Council, for setting up a reinforcing steel manufacturing plant.

The plant will be strategically located on the SADC Walvis Bay Corridor Network in Otavi, about 360 kilometers north of Windhoek.

According to the communique, the product range will include but not be limited to rebars and steel products in a variety of profiles, allowing Namibia to reduce its dependence on imported construction material.

The initial production capacity of the plant will be 580,000 tons per annum and the projected investment is estimated at 250 million U.S. dollars. More than 800 skilled and 700 semi-skilled jobs will be created.

The German company, Polycare, has agreed to set up shop at Okahandja, about 60 kilometers from Windhoek, for developing low-cost houses made of desert sand and polyster resin.

The company said it takes two days to build the type of houses using building blocks that are 87 percent desert sand and 13 percent polyster resin.

Polycare has indicated that they would set up a production facility within the next six to eight months.

Polycare, according to the communique, has held talks with the City of Windhoek exploring the possibility of working together in constructing low-cost housing to tackle the housing backlog.

"The proposed homes will integrate renewable energy applications in order to address the problem lack of electricity in the informal settlements," the communique said.

The Namibia Investment Centre, Namibia's official investment promotion and facilitation agency, signed an agreement on the Establishment of the Turkey-Namibia Business Council with the Foreign Economic Relations Board of Turkey (DEIK).

The purpose of the Turkey-Namibia Business Council will be to promote trade and cross-border investment between the two countries, contribute to the industrial and technological collaboration between Namibian and Turkish companies and institutions, and facilitate the participation in trade fairs and exhibition.

The Head of the Economic Development Agency of Cuxhaven, one of the key fishing regions in Germany, has committed to lead a business delegation to Namibia in the first quarter next year.

Cuxhaven is the home of more than 30 innovative companies of the fishing industry who employ more than 1,000 staff that work in fish production, processing and logistics.

The delegation will include the company Biocerval, which has expressed interest in setting up a production facility for fish meal and fish oil at Walvis Bay.

Another German entity, Land Rover Experience is in the process of setting a centre in Namibia that will service an exclusive clientele flown into the country by Air Namibia. Endit