Chinese business presence no deterrent

The fact that Chinese business is prevalent in the country should not impact other, Western investors.

03 July 2019 | Business

Commentators are of the opinion that the presence of Chinese investors will do nothing to deter Western-aligned investors from making any investments in Namibia. This comes in light of the United States' trade war with China.

Academic Henning Melber said any US-led investment in Namibia would be considered if it was found that there was enough reason to invest.

“Private investments by foreign companies and individuals are decided from a business perspective. If they promise returns, deals will be made. As long as the US administration does not operate with sanctions, a Chinese presence is an unlikely obstacle,” Melber said.

According to Melber, it is a legitimate interest of a country to attract a diversity of foreign investors, provided they offer something in return for the local economy and citizens.

“The American trade war with China and others is guided by interests at home, not abroad,” he added.

Economics academic Professor Roman Grynberg echoed Melber's sentiments on investment.

US investors will not be perturbed by Chinese investment in Namibia. What matters to US investors is whether what they wish to do is profitable and whether their investments are safe in Namibia,” Grynberg said.

President Hage Geingob had last year during a meeting with the Jilin provincial committee of the Communist Party of China at State House questioned why Namibia could not do business with China.

“We are being warned as if we are small children; that is sickening [...] we are being warned but we are mature people. We enter into agreements that will be beneficial to our people and China,” he said.

“I keep telling them that China is everywhere, why do they come lecture us about China? China is in the United States, UK, France and everywhere. Why are we being warned like children?” he added.

Bayin Chaolu, secretary of the Jilin provincial committee of the Communist Party had last year during a visit to Geingob said they wanted to identify or explore new areas of bilateral cooperation, such as in the areas of the automobile, agriculture, petroleum and chemical sectors.





OGONE TLHAGE

Similar News

 

Big banks target South Africa's youth

15 hours ago | Business

Emma Rumney - South Africa's biggest banks are betting cut-price accounts, big mortgages and offers on everything from Adidas backpacks to Xboxes will help them...

Aapunguli yaGerman ya sholola

15 hours ago | Business

Omupresidende gwoGerman Bundesrat (Federal Council), Daniel Günther okwa popi kutya aapunguli yaGerman oya pyakudhukwa okupungula meliko lyaNamibia ihe omilandu dhilwe kombinga yetopolo lyeliko moshilongo odho...

Exploring the mining landscape

15 hours ago | Business

B7: What is the prevailing business landscape in your field of expertise?AB: The mining industry is one of the four pillars of Namibia’s economy, the...

The shame of our marble mines

5 days ago - 12 July 2019 | Business

Health and safety hazards, below-minimum wages, harsh working conditions and working without employment contracts are just some of the issues marble miners continue to endure...

The new era for market research

2 weeks ago - 03 July 2019 | Business

When we look at market research over time, it can be said that it has always had a special role to play in the marketing...

Chinese business presence no deterrent

2 weeks ago - 03 July 2019 | Business

Commentators are of the opinion that the presence of Chinese investors will do nothing to deter Western-aligned investors from making any investments in Namibia. This...

Rössing sale approved

2 weeks ago - 28 June 2019 | Business

The Namibia Competition Commission (NaCC) has approved the sale of Rössing Uranium Limited to the China National Uranium Corporation (CNUC), with stringent conditions.NaCC spokesperson...

NaCC approves Rössing sale

2 weeks ago - 27 June 2019 | Business

The Namibia Competition Commission has approved the sale of Rössing Uranium Limited to China National Uranium Corporation, but with stringent conditions, its spokesperson Dina Gowases...

Namibian beef finally enters Chinese market

2 weeks ago - 27 June 2019 | Business

Meatco's first consignment of Namibian beef was finally released into the Chinese market this week after it was exported in March. Namibian ambassador to China...

Singapore rejects Ohorongo deal

3 weeks ago - 25 June 2019 | Business

The planned purchase of a majority stake in Ohorongo Cement by Sino-Singaporean firm International Cement Group was rejected this week by the Singapore Stock Exchange....

Latest News

Keeping up with the neighbours

15 hours ago | Economics

LuandaYou would need around US$2 535.97 in Windhoek to maintain the same standard of living that you can have with US$7 600 in Luanda, assuming...

88 schoolgirls fall pregnant in...

15 hours ago | Education

Eighty-eight learners, including two girls in Grade 7, fell pregnant in the Oshana Region during the first term of 2019. Oshana governor Elia Irimari...

Stop blaming Aawambo - Kapofi

15 hours ago | Government

Home affairs minister Frans Kapofi has cautioned against tribalism and pointed out that there is a growing perception that only the Aawambo are beneficiaries of...

Mom begs for mercy

15 hours ago | Justice

A mother of three minor children is asking the High Court to reduce her four-year prison sentence, or fine her instead, after she pleaded guilty...

Relevant IFRS themes: Anytime, anywhere

15 hours ago | Business

A good understanding of International Financial Reporting Standards (IFRS) is crucial to the financial reporting process of IFRS reporters. Banks and Insurers in particular have...

Standard Bank faces strike vote

15 hours ago | Labour

ELVIRA HATTINGH Members of the Bank Workers Union of Namibia (Bawon) are to vote on whether to strike...

Let us tread carefully

15 hours ago | Opinion

When expectations are not met, citizens wronged in this regard should have channels, means and ways to air their grievances and have them addressed effectively.In...

Big banks target South Africa's...

15 hours ago | Business

Emma Rumney - South Africa's biggest banks are betting cut-price accounts, big mortgages and offers on everything from Adidas backpacks to Xboxes will help them...

Zim inflation almost doubles, stirring...

15 hours ago | Economics

MacDonald Dzirutwe and Karin Strohecker - Prices of cooking oil and other basics soared in Zimbabwe as inflation nearly doubled in June, piling pressure on...

Load More