Namibia moots plan to attract 1.1-bln-USD investment to revive economy

Source: Xinhua| 2019-05-17 03:53:01|Editor: huaxia
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WINDHOEK, May 16 (Xinhua) -- Namibia's high level panel on economy (HLPE) said on Thursday that it intends to attract investment to the tune of about 15 billion Namibian dollars (1.1 billion U.S. dollars) over the next two years to revive the country's economy.

The 22-member HLPE commissioned last month submitted a report to Namibian President Hage Geingob in which it outlined several plans to attract investment.

Speaking at the state house, HLPE Chairperson Johannes Gawaxab said much of the investment is to be led by the private sector.

"Our mandate is clear, we were asked to help revive the economy, create employment and get Namibia to be a preferred investment and tourist destination. We have organized ourselves into five working groups, each one tackling one of those assignments," Gawaxab said.

The panel said it is planning to host an international economic summit in July. The southern African country hosted an international investment conference about two years ago. Enditem