A high level seminar on how to increase Namibia’s international competitiveness as an investment destination started in Windhoek on Friday morning.

It is based on comprehensive research by the USAID- funded Southern Africa Global Competitiveness Hub seated in Gaborone, Botswana. It was indicated by various organisations (World Bank and the UNCTAD), that foreign direct investment (FDI) is on the decline in Namibia. In addition, Namibia, which was ranked as the number overall competitive country in terms of investment attraction in Africa, by the World Economic Forum Competitiveness Report has dropped from fourth, place in Africa to fifth place, a trend which is likely to continue if not addressed rather sooner. Being concerned, with these trends of decline, the ministry of trade and industry through the Namibia Investment Centre (NIC), requested assistance for an Investor Roadmap study for Namibia.

The study found a lot to criticize and recommended better efficiency of the present investment procedures in Namibia, improvements in the investment climate, faster visa and work permit procedures and more staff at customs offices.