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The US business community is impressed with Namibia's enabling investment environment, including its policies and stability.

However, direct trade levels between Namibia and the US are still not satisfactory as Namibia's exports range in less than US$500 million instead of billions.

In view of these low export volumes, the Namibia Investment Promotion and Development Board held an investment summit on the margins of the UN General Assembly in New York on Thursday.

The Board presented selected sectors such as agro-processing, mining, infrastructure development and energy to the US businesses as lucrative selling points.

The two countries trade mainly in the diamonds, marble, hake, beef, beer and charcoal industries.

Namibia is eligible for preferential trade benefits under the African Growth and Opportunity Act for export into the US market.

NIPDB is now turning its focus on investments in high-value agricultural products to create value chains.

Namibia's investment incentives to attract and maintain investments and enablers, such as quality road networks, are being applauded by potential investors.

The US businesses say these have also put the concerns of current and potential investors at ease.

President Hage Geingob assured the business community of effective governance and the political will to maintain peace and stability in pursuance of economic diplomacy.

This, he says, is further underpinned by functioning processes, systems and institutions which are independent or free from political interference.

The engagements with the US businesses and investors are part of NIPDP's series of targeted investment drives which the board has undertaken since last year, hosted both in Namibia and internationally.

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Photo Credits
Namibia Investment Promotion and Development Board

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Author
Blanche Goreses