PRESIDENT HAGE GEINGOB will this week lead a strong but lean delegation consisting of Ministers, senior government officials and private sector representatives to the World Economic Forum (WEF) Annual Meeting scheduled to take place from 22 – 26 May 2022 in DavosKlosters, Switzerland, under the theme “History at a Turning Point: Government Policies and Business Strategies”.
The Namibian delegation will including: Governor of the Bank of Namibia, CEOs or senior officials of SOEs with projects selected for promotion to potential investors, CEOs and senior officials of four large current players in Namibia Private Sector companies and Hyphen, the preferred bidder for the country’s first large scale Green Hydrogen project.
“The private sector is poised to play a significant role in accelerating the country’s economic recovery and growth through smart partnerships and collaboration with the government that will yield significant results including the creation of much needed jobs. It is against this background that a number of private sector representatives have been invited to participate at WEF as part of the Namibian Government delegation. A number of larger companies in finance, tourism, logistics and infrastructure construction were invited to participate and contribute to the cost of Namibia’s participation in order to ensure diversity of sectors of focus at WEF in the delegation and embody the true spirit of public-private sector collaboration,” the Presidency said in a statement last week adding that the Namibian economy needs a catalyst to drive recovery and growth, as the ripples of economic uncertainty continue to be felt across the country.
“Foreign trade and direct investment are currently the most viable lever the country can leverage to unlock sustainable economic opportunities that make prosperity a real possibility for all Namibians, today and for generations to come. The World Economic Forum presents an enormous opportunity for Namibia to secure these investment opportunities that will make the benefits of economic growth a reality and improve the quality of life for Namibians.”
Namibia’s Agenda at Davos Namibia is headed to Davos with a clear agenda to announce that the country is open for business, present high value investment opportunities in identified sectors and engage with potential investors with the aim of stimulating foreign direct investment needed to enable the country to build a strong, private sector led economy and inclusive growth that drives employment creation and other economic opportunities for Namibians.
“As an emerging market, Namibia has unlimited potential and holds economic promise for both investors and the country’s people. The high level of unemployment and sustained economic contraction, exacerbated by the Covid-19 pandemic has accelerated the need for our country to boost investment promotion in order to stimulate economic recovery”, said Nangula Uaandja, CEO of the Namibia Investment Promotion and Development Board that has been tasked with facilitating Namibia’s participation at WEF.
According to Uaandja, “the World Economic Forum brings together influential figures, key decision makers and some of the biggest investors from all over the world, and we are going there with a clear and collective objective of harnessing the opportunity to make a case for why Namibia is a viable investment destination”.
She added that foregin direct investment is crucial because it can help the country to deliver sustainable economic growth and opportunities for all Namibians. While showcasing the country’s green hydrogen potential certainly tops Namibia’s agenda at WEF, other key sectors have been specifically identified for investment promotion at the WEF and these are: Infrastructure, Transport & Logistics, Tourism; Agriculture; and Oil & Gas.
Several high level events have been planned to showcase these sectors to potential investors. These include positioning the country as a strategic logistics hub serving as a gateway to SADC and unveiling several large infrastructural projects to both domestic and foreign investors.
WEF is an international organization that was started with the aim to ‘improve the state of the world’. Headquartered in Geneva, Switzerland, WEF brings together world leaders in business, politics, arts and academia amongst others to discuss major issues that impact the global economy. These include, but are not limited to political, economic, social, and environmental concerns. Participation at the WEF is by membership or private invitation only. Namibia will be attending following an invitation from Klaus Schwab, the Founder and Executive Chairman of the World Economic Forum, to showcase our Green Hydrogen potential and strategy.
An invitation to Davos comes with immense benefits for Namibia, primarily to showcase the country’s investment potential to global leaders and some of the wealthiest nations and entrepreneurs in the world. Namibia’s presence at WEF underscores the country’s ability to contribute towards setting the international agenda, particularly in the area of renewable energy which underpinned the invitation to the forum. Further to that, the innovative ideas and best practices learned in Davos will be valuable for Namibia to improve her competitiveness in this modern economy.
According to the World Economic Forum, “The Annual Meeting 2022 will embody the World Economic Forum’s philosophy of collaborative, multi stakeholder impact, providing a unique collaborative environment in which to reconnect, share insights, gain fresh perspectives, and build problem-solving communities and initiatives. Against a backdrop of deepening global frictions and fractures, it will be the starting point for a new era of global responsibility and cooperation”.