Windhoek – Namibia is seeking funding for several infrastructure projects, including a new desalination plant as part of the government’s drive to revive the economy and expand the mining sector, President Hage Geingob said Thursday.
While launching a five-year economic recovery plan, President Geingob said the country also planned to expand the local power generation capacity by 250MW to boost the recovery, optimise the operation of the container terminal in the coastal town of Walvis Bay and establish an Economic Free Zone.
“This is a period of great opportunity and we thus invite investors to partner with the government in the delivery of these transformative initiatives encapsulated in the plan, he told reporters in the capital Windhoek.
“Our objective is to unlock targeted projects worth approximately N$27 billion (US$1.8 billion),” he added.
On Wednesday, Finance Minister Ipumbu Shiimi said the country would accelerate reforms to improve the domestic investment climate by tabling the reviewed Namibia Investment Promotion Bill and the National Equitable Economic Empowerment Bill this year. – Xinhua