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Introduction
Namibia
is located on the west coast of Southern Africa and shares common
borders with Angola, Botswana, South Africa and Zambia. Namibia became
independent in 1990 and has earned an international reputation as a
stable, multiparty democracy with an independent judiciary and free
press.
The
climate is primarily arid and semi-arid and sub-tropical in the
northeast. The hottest months are between November and February.
Namibia
is an ideal location for investors with its good infrastructure and
communication facilities, which provide for a conducive invest climate.
Namibia enjoys easy access to a regional market of over 350 million.
Major trading partners include the European Union, Japan, the United
States of America, Switzerland and the Southern Africa Development
Community (SADC).
The Namibian economy is based on free enterprise
and private initiative. The Government regards the private sector as the
engine for economic growth and has put in place policies and legislative
framework designed to stimulate private sector growth. Foreign companies
are free to repatriate capital, profits and dividends. Due to
Government’s maintenance of prudent fiscal and monetary policies
Namibia enjoys one of the lowest levels of debt in the world.
Investment
Climate
Agriculture
– Agriculture
is an important economic activity in Namibia, mainly in terms of export
earnings and employment. Small stock farming is practiced while game
farming as an industry, is a significant earner of foreign currency,
through tourism and hunting.
The
fastest developing agricultural industry is ostrich farming and
processing of ostrich products. Agronomy contributes about 2 percent to
the gross agricultural income, but the sub-sector has great potential
for expansion.
Fisheries
– Namibia’s
1,500-kilometre coastline is recognized as one of the world’s richest
fishing grounds. The commercial biomass consists primarily of small
pelagic species (pilchard, anchovy and juvenile mackerel) and lobster
along the shallower inshore waters on the continental shelf, as well as
large pelagic species including adult mackerel, demersal hake and other
deep-sea species (monkfish, sole, crab) in the waters further offshore.
Namibia’s
estimated national fish reserves are the biggest in Southern Africa and
it increased the regional body’s fisheries output from 600,000 tons to
1.3 million tons when it joined the grouping after independence. It is
the top African fisheries country by production value and exports.
Mining
– Namibia’s
mining sector is the fifth largest in Africa. Among the minerals mined
are arsenic tri-oxide, diamonds, cadmium, copper, gold, lead, silver,
pyrite, zinc, tin, quartz, lithium, florspar, uranium, semi-precious
stones, natural gas and industrial minerals. The mining sector in the
main contributor to the GDP.
Various
possibilities exist for the significant broadening of activities and
value added processing such as:
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Refining
of copper, gold, silver, zinc and arsenic and further processing of
local concentrates;
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Reclaiming
of base and precious metals from mine tailings;
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Extraction
of rare earth, lime mica, feldspar, germanium and gallium from slag
and refining;
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Mining,
cutting and polishing of gemstone and semi-precious stones;
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Value-added
processing of industrial minerals, niobium and tantalum tantalite,
wollastonite, and ceramic/pottery (clay); and,
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Dimension
stone – marble and granite production (e.g. tiles). |
Tourism – Tourism is the fastest growing
sector in Namibia. It is expected to become the largest contributor to
the GDP in the next ten years. Namibia is blessed with extensive tracts
of wilderness and a rich diversity of scenery. The country’s wildlife
heritage is one of its richest assets. Varieties of game include more
than 20 antelope species and large mammals such as elephant, rhino,
giraffe and lion abound. Namibia has the largest cheetah population in
the world.
Namibia – India
Relations
Economic
cooperation between Namibia and India is growing from strength to
strength. A number of Agreements and Memoranda of Understanding have
been concluded in various sectors of common interest.
Namibia
and India are cooperating in diverse fields such as agriculture, health,
trade, economy, renewable energy, transfer of technology and human
resources training.
High-level
delegations from Namibia have been visiting India regularly. Similarly,
important delegations from India went to Namibia. The Confederation of
Indian Industry (CII) in conjunction with the Small Industries
Development Bank of India (SIDBI), held a successful Trade Exhibition in
Windhoek during September 2001.
During the visit to India by His Excellency Dr.
Sam Nujoma, President of Namibia in February 2003, Namibia and India
issued a Joint Communiqué looking ahead with faith
and optimism to move together towards realizing the larger goals of
political freedom namely, economic empowerment and their peoples along
with social justice. Recalling that both countries’ common struggle
began with resistance to racial discrimination they looked back with
pride and gratefulness at their productive partnership, in the spirit of
South-South cooperation.
Namibia
Country Data
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Official Name:
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Republic of Namibia
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Capital:
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Windhoek
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Natural Resources:
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Diamonds, copper, uranium, gold, lead, tin,
lithium, cadmium, zinc, salt, vanadium, natural gas, hydropower,
fish, and suspected deposits of oil, coal, and iron ore
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Population:
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2,030,692 |
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Population growth
rate:
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0.73% (2004 est.)
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Languages:
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English (official), Oshivambo, Herero, Nama,
Kavango Himba, Caprivian, San, German and Afrikaans
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Religions:
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Christian 80% and 20% others
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GDP:
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US$14.76 billion
(2004 est.)
Real growth rate: 4.8% (2004 est.)
Per capita: US$7,300 (2004 est.) |
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Industries:
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Meatpacking, fish processing, dairy products,
Mining and tourism
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Main
Exports:
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Diamonds, copper, gold, zinc, lead, Uranium,
cattle, processed fish, karakul skins
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Main
Imports:
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Petroleum products and fuel, machinery and
equipment, chemical products, electronic goods, pharmaceuticals,
manmade yarns and fabrics
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Currency:
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Namibian Dollar (N$)
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