NAMIBIA OFFERS INCENTIVES TO WOO FOREIGN INVESTORS

By Abdul Muin Majid

PUTRAJAYA, June 21 (Bernama) -- Namibia is providing tax breaks and
provision of reliable services in export processing zones to prospective foreign
investors, said its Deputy Prime Minister Marco M. Hausiku.

"This has led to significant annual inflows of foreign direct investment,
especially in the fields of mining, tourism and manufacturing," he said in his
intervention at the Langkawi International Dialogue 2011 here.

Noting that Namibia aspired to become a regional trade and service hub as
outlined in its Vision 2030, Hausiku said this strategic objective was already
achieving some measure of success.

"The Walvis Bay Corridor is linking Namibia to Southern Africa, Europe and
across the Atlantic to the United States and South America," he said.

He also said that trade was being promoted aggressively along the
Trans-Kalahari Highway into Botswana and South Africa, and similar efforts were
being made in other parts of the country.

Meanwhile, Kenyan Vice-President Stephen Kalonzo Musyoka said his country's
Vision 2030 was being rolled out under several flagship projects in agriculture
and agro-business, infrastructure development involving roads, railways,
airports and seaports, as well the establishment of resort cities to boost
tourism.

The government was also implementing an economic stimulus programme aimed at
improving infrastructure and income generation nationwide.

Prime Minister Najib Tun Razak presided over the three-day LID
which ended here Tuesday.