We are looking for investment in almost all areas: Katuamba

Anand Choudhary | 02 Apr, 2008
Commercial Counselor of Namibia in India Mr. Jakova Katuamba in an exclusive interview to SME Times Correspondent Anand Choudhary has indicated that his country is willing to give major concessions to Indian companies for setting up operations in Namibia.

The Republic of Namibia gained its independence from South Africa on March 21, 1990. With a population of around two million Namibia is today the fifth largest growing economies in the African region and an excellent destination for investment.

Excerpts of the interview...

SME Times: Welcome Sir, it's a pleasure to have you for interview. So, without wasting much time I should start with it...

How is the investment opportunities in Namibia?
Jakova Katuamba: There are excellent investment opportunities in Namibia. It has a stable economy with a low rate of inflation. It's also the fifth largest growing economy in Africa with a population of around two million people. Moreover it has got  a B+ category for investments. So, it's a very lucrative place to start your business.

What are the facilities that are offered to Indian businessmen setting up business in Namibia?
Jakova Katuamba: First of all we provide good infrastructure. Also Namibia has access to big markets like the European Union (EU), United States (US) besides all the African countries.

Secondly, under the Africa Growth Opportunities Act (AGO), the European Union and US have agreed to buy a large quantity of products from Namibia and some other African countries. So, it provides excellent prospects for Investors who set up businesses in Namibia.

Does your country offer any tax holidays for Investors setting up business in Namibia?
Jakova Katuamba: Yes, we offer Tax Holidays for Life.

You mean to say if a businessman sets up a unit in Namibia he does not have to pay any kind of taxes ever?
Jakova Katuamba: Yes. As currently, we are looking for investments form outside to generate employment.

How's the law-and-order situation in Namibia?
Jakova Katuamba: It's very secure. We are a small country with a two million population and the crime rate is extremely low.

Which are the major areas in which Namibia is currently looking for imports from outside?
Jakova Katuamba: We are looking for imports mainly in...mining, agro-equipments, gems and jewelry, power, telecom, healthcare and skill development, besides others.

Which are the areas in which Namibia wants Investments from outside?
Jakova Katuamba: There are many areas, but take textile for example. Cotton is cheaply available in Namibia so any businessman who set up a garment manufacturing unit in Namibia will be able to produce goods at a very cheap rate and then export it to the big markets in the European union and the United States. So I will say we are looking for investment in any area in which the investor wants to invest.

In your opinion how can the Small and Medium Entrepreneurs (SMEs) from both the sides come together and increase economic cooperation between SMEs from both the countries?
Jakova Katuamba: Through more meetings, seminars and trade summits. Besides, we are here so whatever query any SME or any other person has regarding investments or tie-ups with Namibian businessmen can come to us we are ready to provide full support and cooperation.

How do you see the future of trade ties between India and Namibia?
Jakova Katuamba: I see it growing. If you look at the statistics you will find that.

SME Times: Thank you Sir. It was a pleasure talking to you. See you tomorrow in "Face to Face" with some other prominent persons discussing India's trade relations with their respective countries.