Erongo Governor Neville Andre says the Namibian government views foreign direct investment (FDI) as a key contributor to economic development.

Andre says the FDI legislation should ensure an enabling environment for foreign investors and Namibian firms, including international arbitration of disputes, the right to remit profits, and access to foreign exchange.

He says that Namibia has emerged as Africa's second-fastest-growing market and fifth in the world in terms of foreign direct investment, with GDP growth forecast at 2.7% in 2024, according to the publication FDI Intelligence.

He further says the country is becoming an attractive prospect for foreign direct investment, fast-tracking it for economic growth following recent discoveries of oil, gas, green hydro, and lithium.

This also means an increase in economic growth and improving livelihoods by offering new opportunities and prosperity.