President Nangolo Mbumba has encouraged more German companies to explore investment opportunities in Namibia and expressed appreciation to those who are already doing so.

Dr. Mbumba addressed captains of industry during the High-Level Business Breakfast gathering in Berlin.
 
The event was facilitated by the Berlin Chamber of Commerce and Industry.

"We are ready to welcome you, and we are open for business. We have a lot to offer as an investment destination," said Mbumba.

The President further expounded on Namibia's pursuit to diversify industrial growth with a strong emphasis on value addition.

The targeted sectors range from agro-processing to manufacturing.

President Mbumba lauded the collaboration between the two countries in the green hydrogen industry that could translate into the development of green value chains.

"We therefore invite interested investors to explore opportunities in green hydrogen and its derivative, green ammonia, and fertiliser production in Namibia. We are aware that a sector such as green hydrogen requires a workforce with specialised skills. To this extent, we are collaborating with Germany in the area of skills development. At present, over one hundred students have received scholarships to pursue studies in fields related to the green hydrogen sector."

The Berlin Chamber of Commerce and Industry has announced plans by Germany to set up training centres in Namibia.

The centres would duplicate the strategic use of Germany's vocational training standards to equip Namibians with skills that contributed effectively to the European country's industrialisation.

"Berlin-based companies are to be given the opportunity to become directly involved in training, internships, scholarships, or local training companies, thus gaining mutual contracts with future skilled workers. The necessary infrastructure is to be financed by private investors from the Berlin economy, thus ensuring the long-term establishment of the cooperation. The first companies have already expressed interests in setting up the training centre directly in Windhoek," said Sebastian Stietzel, President of the Berlin Chamber of Commerce and Industry.

German exports to Namibia totalled US$84 million, while those from Namibia to the world's third largest economy recorded US$62 million as per the latest trade statistics.