Through the Namibia Industrial Development Agency (NIDA), the Ministry of Industries, Mines and Energy (MIME) is advancing major industrialisation projects, including a pipe manufacturing initiative valued at N$390 million covering construction and operational phases.
Namibia Petroleum Operators Association representative Eduardo Rodriguez says Namibia has done a commendable job in terms of attracting investors.
Rodriguez, however, stated production could take up to 15 years after final investment decision is made.
Trade between Namibia and Russia has grown over the years, reaching a peak of over 300 million by the end of 2025.
Building on this long-standing relationship, Russian Deputy Prime Minister Yury Trutnev paid a courtesy call on President Netumbo Nandi-Ndaitwah.
Namibia and Russia are seeking to expand trade, investment and cooperation.
Officials from the two countries met in Windhoek for the 11th session of the Intergovernmental Commission on Trade and Economic Cooperation between Namibia and Russia.
Swapo Party Members of Parliament (MP)s continue to defend the Petroleum Bill, lamenting that the bill is not aimed at centralizing power, but rather at protecting national interest, improving policy coordination, and expediting investment.
The Minister of International Relations and Trade said the report of Rapid Assessment on Value Addition and Diversification is the realisation of the eighth administration.
Selma Ashipala-Musavyi affirmed that the recommendations offer a foundation for informed decisions.
The recently launched Rapid Assessment Report on Value Addition and Diversification has identified an estimated N$ 811 million in worldwide market opportunities.
This is from 200 trade products identified across nine sectors under a global export scenario.
Cooperation between Namibia and Iran continues to grow at the bilateral, continental, and multilateral levels.
President Netumbo Nandi-Ndaitwah says Namibia's foreign policy is increasingly shaped by the imperative of economic diplomacy.
She says this is no longer a complementary aspect of international engagement but a central instrument in advancing national development objectives.
Vice President Lucia Witbooi arrived back in the country this afternoon following the conclusion of her official visit to Abu Dhabi in the United Arab Emirates.
Witbooi participated in the Abu Dhabi Sustainability Week Summit.
