NIPDB gets N$135m to promote investment
The Namibia Investment Promotion and Development Board (NIPDB) has been allocated N$135 million to promote and facilitate foreign and local investors earmarked for economic growth.
Presenting the Office of the President’s budget of N$614 million for the financial year 2022/23 in parliament on Monday, minister Christine // Hoebes said the board, which is a division of the presidency, has been allocated a total of N$135 million for operations to increase the volume, value and range of Namibia’s export of goods and services, as well as securing external markets and preferential market access conditions for local products in regional and global markets.
She highlighted that the board’s activities include expanding engagement activities with investors and stakeholders through international events, expos and trade fairs, such as the recently concluded Dubai expo 2020, where Namibia participated as an investment and tourist destination.
//Hoebes added that the budget also includes the procurement of systems and processes aimed at digitalising the board.
Meanwhile, she indicated that the presidency has been allocated N$89 million (N$89 285 000) for activities such as supporting the development of Green Hydrogen, hosting bi-national events and implementing the Harambee Prosperity Plan phase two.
//Hoebes further noted the presidency’s office administration received a budget of N$365 million for activities such as completing ongoing capital projects, preventative maintenance on office infrastructure, acquiring
backup servers, maintenance of security systems and utilities.
“Objective of the administration office is to ensure the detection and identification of threats or potential threats to the security of Namibia, which contributes to the maintenance of peace, security and stability in the country. To provide advisory and administrative support services
and carry out executive assignments,” said Hoeseb.
She equally noted that the former presidents’ support services division has been allocated N$11 million to ensure that the offices of former presidents are properly maintained and that efficient and effective services are rendered.
“The Vice President’s Office received N$13 million to enable it to carry out delegated executive functions, assist and advise the president in the performance of his duties as may be required by the President, to whom he is accountable, she noted.