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NIPDB wins FDI award for Kelp Blue project

The Namibia Investment Promotion and Development Board (NIPDB) has been awarded first runner-up in the Best Foreign Direct Investment (FDI) Project category for its Kelp Blue investment project.

The award was presented at the Annual Investment Meeting (AIM) event in Abu Dhabi, UAE.

The AIM event recognizes countries that have attracted significant and beneficial investment projects, contributing to the economic growth and development of their markets.

The awards are given to the best FDI projects in each region of the world.

NIPDB Chairperson and CEO, Nangula Uuandja, and Kelp Blue representative, Irija Jona, received the award.

Kelp Blue secured a N$31.1 million investment from the De Beers Group to commercially develop the world’s first large-scale kelp farm off the coast of Namibia, near Luderitz.

The project, which was awarded a licence in 2021 to cultivate Giant Kelp off the coast of Namibia and is now in its pilot phase, is estimated to require N$938 million in investment over a five-year period.

The project has created 45 permanent direct positions in Lüderitz and two in Windhoek, with a projection of 150 jobs by 2024 and 200 by 2027.

The AIM Foundation, an independent international organization committed to empowering the world's economy by boosting effective promotion strategies and facilitating opportunities for economic productivity and expansion, hosts the annual event.





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Last modified on Wednesday, 10 May 2023 19:50

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