Namibian president commends French companies doing business in Namibia

Namibian President Hage Geingob has commended French companies doing business in Namibia especially those involved in renewable energy.

Addressing the Mouvement des Entreprises de France business event in Paris France Tuesday, Geingob said companies such as InnoSun that worked on solar farms in Namibia have not only created jobs but transferred technology and expertise.

InnoSun was involved in two solar projects in Namibia -- the development of the 4.5MW Omburu solar plant in Omaruru and 4.5MW Okahandja solar farm.

According to Geingob, Namibia and France trade in a number of products, including fish, food and beverages, minerals, petroleum products, chemicals, clothing, live animals, pharmaceutical products.

"A total value of 25. 6 million euros worth of imports was sourced from France into Namibia during the year 2015," he said.

He invited more French companies to take advantage of their advanced technology and greater industrial know-how, and invest in priority areas such as transport infrastructure, affordable housing, agriculture and manufacturing.

"As you have successfully done in France, we want to develop our manufacturing capabilities to become the backbone of our economy. We are, therefore, eager to learn from you about the development of labor-intensive industries."

"Our main focus is on value addition. We believe that by adding value to our natural resources, Namibia will be able to increase its industrial output and thereby increase its exports of finished and high quality goods to regional and international markets," he said.

He told the French business community that Namibia's institutions are strong and the judiciary is independent and the rule of law prevails.

The media, he said, the fourth estate is part of our nation building machinery and it certainly helps that they are regarded as the freest on the African continent according to Reporters Without Borders.

"We are working hard to continuously strengthen our governance architecture. We believe accountability and transparency are important to increase trust levels between all stakeholders in a democratic society and in the world. As potential investors, we would like to assure that you could put your trust in the Namibian institutions and political system," he added.

Doing business in Namibia, he said, has been made easier by the removal of red tape and bottlenecks that hinder the registration process.

Geingob said the Investment Promotion Act provides for among others, investor incentives and protection, as well as provisions of dispute resolution mechanisms in the event of a dispute over an investment. Enditem