Trade minister backs logistics ambitions

Minister of Industrialisation, Trade and SME Development Immanuel Ngatjizeko last week pledged his support for the country’s ambitions to become a regional logistics hub.At a forum hosted by the Walvis Bay Corridor Group in collaboration with the Embassy of Finland in Namibia, Ngatjizeko said it was a realistic expectation on the part of Namibia, to serve as preferred trade route to and from the entire southern region of the African continent.Arguing that the country needed to focus on making itself appear more attractive to foreign investors, he said his ministry was in the process of formulating a number of policies to that effect.“I believe that Namibia’s ‘logistics hub’ is a viable concept”, Ngatjizeko said.“International trade is the wind that fills the sails of the logistics ship, therefore it is essential to attract international role players.”The logistics industry, he said, if managed property, could contribute up to 4.6% of Namibia’s GDP, especially considering the strong foundation laid in terms of the country’s transport infrastructure.Among the ministry’s efforts to improve the sector’s performance, according to the minister, was the investment promotion programme – which aims to achieve an increase in the number, value and nature of domestic and foreign direct investment in Namibia. Entailed in that initiative are a legal and regulatory framework, and a marketing plan and strategy. Also speaking at the WBCG forum was Simonis Storm Securities Director of Securities and Trading, Purvance Heuer, who stressed the nation’s role within the wider global economy.“Namibia isn’t just Namibia. A lot of what is happening regionally is as a result of what is happening globally and unfortunately, that has resulted in economic growth output forecast being slashed quite aggressively by the World Bank and also the International Monetary Fund,” Heuer said.“You can probably expect sub 3% growth rates for the foreseeable future, which is significantly lower compared to the 5% that would have been expected ten to fifteen years ago.”“That is primarily why emphasis is placed on transforming Namibia into a logistics hub to assist in the process of Namibia becoming an economic powerhouse,” the financial analyst said.“Given the phenomenal growth in the international trade over the last few decades, we have a realistic chance to transform our economy,” Ngatjizeko told those in attendance.“The logistics industry is moving towards unparalleled growth. However, to further sensitize the industry in order for infrastructure development to meet potential cargo flow, industry players and the industry itself need to be ready for when the ‘logistics hub’ reaches full implementation. DENVER ISAACS

Trade minister backs logistics ambitions

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Namibian Sun 2025-05-05

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Trade minister backs logistics ambitions

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Namibian Sun 2025-05-05

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