Economy and Business

Namibian entrepreneurs seek partners in China

By Chen Qide (China Daily Shanghai Bureau)
Updated: 2010-08-27 17:04

Namibian entrepreneurs are seeking partners in China to promote their business and trade.

"We hope more Chinese firms to invest in Namibia to favour the two countries," said Hage Geingob, minister of Trade and Industry of Namibia, at the Namibia-China Investment Forum which was held in Shanghai Friday (August 27).

The forum was organized by Touchroad International Holdings Group with more than 70 Namibia entrepreneurs in attendance.

Geingob said Namibia is witnessing a steady growth rate of 4.2 per cent in gross domestic product which is expected to rise up to 7 per cent in the future years.

"Good economic development will provide a favourable business climate for foreign investors," said the minister.

His words were echoed by Zhang Endi, deputy director of the Pudong New District government, who said efforts will be made to promote the co-operation of the two countries in trade and investment.

"We will encourage private enterprises to invest in Namibia," Zhang said.

A senior Namibian official in charge of investment said Namibia has extensive mineral deposits including diamonds, uranium, gold, copper, lead and zinc.

It needs technologies and funds to build green scheme irrigation systems, develop the mining industry and launch hydraulic, wind and solar power station projects, the official said.

She said Namibian companies in the fields of agriculture, aquatic products, mining, tourism and trade discussed with their Chinese counterparts about the co-operation during the forum.

"Some have the intention to invest in our country," the official said.