Namibia needs China to transform economy: president

WINDHOEK, March 27 (Xinhua) -- Namibia needs China to transform its economy through value addition, diversification and creation of new industries.

President Hage Geingob said this in Windhoek before he left for a seven-day visit to China on Tuesday.

Geingob said Namibia has tremendous opportunities for Chinese companies to access the broader African market.

Geingob said that some major projects in the transport and logistics sectors, for instance, had been awarded to Chinese companies.

"But we would like to see more direct investment by Chinese companies to assist in expanding the productive capacity of our economy instead of participating as contractors," Geingob said.

Geingob said Namibia, like China, has significantly reduced poverty since 1993 but the income gap remains high.

To improve Namibia's situation, Geingob said his administration has come up with the Harambee Prosperity Plan that seeks to eradicate poverty, improve old-age pension, and strengthen school enrolment, among others. Enditem