President Hage Geingob has reassured global investors that Namibia is open and safe for business.
He told investors in Dubai that his administration has put in place a legal framework for investment that provides adequate investor protection in line with most international standards including safeguards for property rights, including the ability to repatriate profits to their home country.
“On these questions let me reassure you that not only is Namibia a rule-based democracy with membership to international investment protecting conventions and instruments such as the International Centre for Settlement of Investment Disputes (ICSID), the Multilateral Investment Guarantee Agency (MIGA) and others. We also have an independent judiciary that robustly enforces constitutionally guaranteed property rights for all domestic and foreign investors,†he told participants who attended the Namibia Investment Summit on Wednesday.
“Moreover, repatriation of profits, returns, loans and even the entire investment is legal in Namibia. Thus, there is no need for concern in that respect.â€
