Posted by Property News Namibia on 27 Jun 19
Namibia is to host a two-day economic summit which is expected to attract at least $1 billion worth of investments over the next two years, the Ministry of Information and Communications Technology said on Wednesday last week.
Namibia’s economy has contracted for the last two years, and the southwest African nation has been ravaged by a drought which the meteorological services estimate to be the deadliest in 90 years.
The economic summit, which will take place from July 31 to Aug. 1 in the capital Windhoek, is aimed at reviving and growing the Namibian economy, creating job opportunities and attracting investment opportunities, the ministry said in a statement.
It will also seek to promote Namibia as an investment and tourist destination as well as identifying and removing bottlenecks that are slowing the growth of the local economy.
The International Monetary Fund projects that Namibia’s economy, which contracted by 0.8% and 0.1% in 2017 and 2018 respectively, will mildly contract again this year due to poor rains and reduced diamond production.
About 600 delegates from across the country, Africa and the world are expected to attend the summit, which is the first of its kind.
“The summit will provide a platform to showcase growth and investment prospects in the local economy as well as present local and international investors with a portfolio of investment projects in several sectors,” the ministry said.
SOURCE: Africa Property News
All the information published on this website, or in any article herein is true and accurate to the best of the authors' knowledge. Information on this site should not be a substitute for legal advice. No liability is assumed by Property News Namibia, or individual Property News Namibia employees for losses suffered by any person or organisation relying directly or indirectly on information published on this site. Views expressed in any article are the views of the authors individually and do not necessarily reflect the view of Property News Namibia or their employees.
Information appearing on this site may only be reproduced with prior approval from Property News Namibia, and credit being given to the source.
© Property News Namibia 2019.