Chamwe Kaira
Namibia aims to increase foreign direct investment and expand export markets over the next five years under targets set in the medium-term expenditure framework for the Ministry of International Relations and Trade.
The plan outlines a steady rise in foreign direct investment inflows.
Annual FDI is expected to reach N$207 billion in the 2024/25 financial year. It is projected to increase to N$223.6 billion in 2025/26, N$236.9 billion in 2026/27, N$246.4 billion in 2027/28 and N$251.3 billion by 2028/29.
The government also plans to increase the number of Namibian businesses accessing export markets.
The share of firms receiving support to access or diversify export markets is expected to rise from 10% in 2024/25 to 25% in 2025/26.
The target increases to 50% in 2026/27 and 2027/28 and 75% by 2028/29.
Implementation of Namibia’s strategy under the African Continental Free Trade Area will also expand during the same period.
The implementation rate is projected to increase from 10% in 2024/25 to 30% in 2025/26. It is expected to reach 60% in 2026/27, 80% in 2027/28 and 90% by 2028/29.
The government also aims to secure new export market access opportunities.
Targets show that two new or expanded export markets will be secured each year from 2024/25 to 2027/28. The number is expected to rise to five by 2028/29.
Authorities also plan to strengthen cooperation with industry and trade partners.
The plan targets at least three stakeholder engagements or forums each year from 2024/25 to 2027/28. The number is expected to increase to seven by 2028/29.
The number of investment projects moving from final investment decision to capital deployment and operation is also expected to grow.
Two projects reached this stage in 2024/25. The target is seven projects each year from 2025/26 onwards.
The targets form part of Namibia’s plan to increase the volume and value of goods and services exported by the country while improving access to external markets.
By 2030, Namibia aims to diversify its export base and increase the share of manufactured goods in its export portfolio.
