STATEMENT BY HIS EXCELLENCY
HIFIKEPUNYE POHAMBA
PRESIDENT OF THE REPUBLIC OF NAMIBIA
ON THE OCCASION OF THE OPENING
OF THE NAMIBIA INTERNATIONAL
INVESTORS CONFERENCE
31 OCTOBER 2007 WINDHOEK


Your Excellency and Dear Brother Thabo Mbeki, President of the Republic of South Africa
Right Honourable Nahas Angula, Prime Minister
Honourable Theo-Ben Gurirab, Speaker of the National Assembly
Honourable Ministers and Members of Parliament from both South Africa and Namibia
Your Excellencies, Members of the Diplomatic Corps
Senior Government Officials from South Africa and Namibia
Esteemed Captains of Industries
Distinguished Invited Guests
Members of the Media
Ladies and Gentlemen,

On behalf of the Government and people of Namibia, I wish to welcome all the delegates who travelled from near and far to attend the Namibia International Investors’ Conference. Your presence and contributions to the proceedings that are about to start will make it possible for us to achieve the objectives of the Conference.

I would like to particularly thank His Excellency and my dear Brother, Mr Thabo Mbeki, President of the Republic of South Africa, for agreeing to co-chair with me the opening session of this conference.

The global economy has become increasingly competitive. It is now easier to move products to markets and to provide services to consumers in different parts of the world with greater speed. Undoubtedly, increased competition and integration of the global economy places demands on developing countries to implement strategies that will enable us to foster economic growth, create new employment opportunities and ensure that our economies remain vibrant.

Some of the important questions that developing countries should answer are: How do we respond to the challenging dynamics of the global economy? How do we sustain economic growth in our countries, keep up with new technological developments, harness the full potential of our natural resources and provide efficient services to our peoples?

There are no easy answers to these complex questions. However, one point of departure is bilateral and regional co-operation among developing countries. This will enable us to share experiences and adopt best practices with regard to the introduction and implementation of effective policy frameworks that can stimulate sustainable economic growth over a long term. This calls for deliberate actions by governments to put in place effective regulatory measures to cut red tape and facilitate smooth business operations.

The hosting of this Investors Conference demonstrates what can be achieved through concerted bilateral co-operation. You may wish to note that this Conference was born out of the Bilateral Economic Meetings between the Heads of State of Namibia and South Africa, in support of the implementation of the Walvis Bay Corridor Spatial Development Initiative (SDI). The Walvis Bay SDI commenced in July 2001, with the view to strengthen economic sectors along the Trans Kalahari Highway from the Port of Walvis Bay on Namibia’s Atlantic coast to the industrial heartland of Gauteng Province in South Africa, via Botswana.

Director of Ceremonies,
During this Conference, delegates will learn about several projects that have been identified for possible funding. The projects are drawn from various exciting economic sectors including mining, power generation, infrastructure development, communications, tourism, hospitality and other sectors. We hope that these projects will attract the interests of investors who can provide funding for their implementation.

Generally, the macro-economic environment determines the level of success that a country can achieve in promoting economic development. A sound macro-economic base provides a foundation for the implementation of policies to address poverty, unemployment and underdevelopment.

In this sense, Governments have a duty to put in place sound macro-economic policies, while ensuring peace and economic stability. Namibia has made strides in creating a conducive environment for investments by taking deliberate steps to attract both local and foreign investors. We have adopted investor-friendly policies such as the Foreign Investment Act as well as highly competitive incentive and fiscal regimes.
For instance, our Export Processing Zones regime offers a tax and duty-free environment to export-oriented enterprises while manufacturers in Namibia pay as little as 8 per cent on their corporate tax bill.

Investors in Namibia can also benefit from our location as a strategic point of entry to southern African markets. The Port of Walvis Bay has been expanded and continues to grow, supported by a network of transport infrastructure into the interior and our land-locked neighbours.

Our country enjoys peace and stability, our telecommunications infrastructures are well-developed and the financial services sector is well-positioned to cater for the requirements of investors who invest in our country. Moreover, our Government has invested substantially in transport and telecommunications infrastructure in order to improve the quality of service and bring Namibia on par with the rest of the world.

Director of Ceremonies,
As a member of SADC, Namibia enjoys access to a regional market of over 250 million consumers. Moreover, companies based in Namibia enjoy Duty-and-Quota free access to the US and EU markets through the Africa Growth and Opportunity Act (AGOA) and the Cotonou Agreement, respectively. With other SADC Member States, we are actively pursuing the creation of a regional free trade area and a customs union.

The Southern African Customs Union (SACU), of which Namibia is a member, has concluded trade agreements with EFTA countries as well as the MERCOSUR trade bloc. The SACU/EU negotiations for an Economic Partnership Agreement have also reached an advanced stage. We hope that the remaining hurdles can be sorted out as soon as possible in order to ensure access for our products to the European market through the envisaged Economic Partnership Agreement.

Under the auspices of SACU, we are also negotiating Free Trade Agreements with Brazil, India, China, Nigeria and other countries.
When concluded, these trade arrangements will enhance access of our products to international markets and strengthen the country’s attractiveness and competitiveness. These factors as well as our Government’s firm commitment to maintain peace and the rule of law, should convince investors to invest in our country.
My Government recognises that domestic and foreign investments are critical factors in promoting economic growth, industrialization, diversification and wealth creation through higher levels of employment. We also recognise the fact that the ability of the private sector to function as an effective engine of growth and wealth creation depends on overall political and economic stability, a sound legislative framework that supports and promotes business, and a clear regulatory framework.

A responsive and efficient public service bureaucracy that understands the imperative of economic growth and support for business development is also essential. In this light, I call on our civil servants to ensure that in carrying out their regulatory and administrative responsibilities, their decisions should be speedy, fair, objective and transparent.

We have put in place policies and measures to attract investors. Now we expect them to play an active role in the transfer of skills and technology through training of their employees and joint ventures with Namibian partners.

Director of Ceremonies,
I would like to, once again, thank my counterpart, President Thabo Mbeki and his Government for their support to Namibia in hosting this conference.

May the deliberations during this conference over the next two days be fruitful and informative. As your host, we are looking forward to engaging and interacting with you on various topics on the agenda.

I wish you all a peaceful and enjoyable stay in our country.

I thank you.