Namibia pins investment hopes on Dubai

…N$20m set aside to attend expo

15 October 2021 | Local News



The Namibia Investment Promotion and Development Board (NIPDB) intends to secure at least 10 investment leads per month for the duration of the Dubai World Expo 2020.

Namibia has set aside N$20 million for attending this event, including the upkeep of the 19 permanent staff members, their living expenses, flights, accommodation and medical insurance.

According to Catherine Shipushu, NIPDB’s senior manager for marketing, branding and communications, N$15 million came from state coffers and N$5 million from additional funding, including corporate sponsorships.

The 19 staff members include four from NIPDB, two from the mines ministry, one from the tourism ministry, one from the agriculture ministry and one from the ministry of lands.

Additionally, there is one staff member from international relations, one from the information ministry, one from the education ministry and one from the Namibia Broadcasting Corporation (NBC).

The staff also includes four female entrepreneurs funded by the GIZ, one start-up entrepreneur and another who will manage a kiosk and retail shop selling Namibian products at the pavilion.

“In addition, NIPDB executives, advisory board members and communication staff will be joining the team from time to time for interval periods not lasting longer than one to three weeks.”

Playing the long game

“The purpose of these visits will be to pursue investment opportunities by United Arab Emirates [UAE] companies, to learn from and build networks with more than 190 other countries represented at the expo, to connect with potential investors and participate in industry-specific events through which to position Namibia as a viable investment destination,” she said.

Shipushu added that the board, and specifically the communications team, is strategically positioning the country by facilitating consistent media exposure on local and international media platforms.

They also expect to increase the number of tourists visiting Namibia as a direct result of the expo, as well as to leverage international media exposure to raise awareness about Namibia as a destination both for tourism and investment.

“Investment promotion is a long-term effort of engagements and negotiations that will continue long after the expo has ended. In order to be more practical and focused in our approach, however, we have set specific expected outcomes,” she said.

Namibia is particularly eager to attract investors in the renewable energy sector.

[email protected]