EU-Namibia Business Forum poised to yield growth in green economy

October 17, 2023 1159

The European Union-Namibia Business Forum, which is set for 24 to 25 October in Brussels, Belgium, is geared to promote growth in Namibia's green economy and attract European foreign direct investment (FDI).

Gosia Lachut, the Chargé d’Affaires of the European Union (EU) Delegation to Namibia, said the key objective of the Green Hydrogen and Critical Raw Materials (CRM) Business Forum is to support Namibia's investment promotion efforts to attract European FDI. 

“It aims to facilitate joint ventures to expand green hydrogen production capacity and the development of downstream products, such as synthetic fuels, green ammonia, green steel and the establishment of a local extractive, refining and recycling industry for raw materials in Namibia,” she said today.

Under the theme “Mobilizing Quality Investment and Value Addition for Green Growth in the EU-Namibia Partnership”, this two-day event is a collaborative effort between the Namibia Investment Promotion and Development Board (NIPDB) and the EU. 

The Chairperson and CEO of NIPDB, Nangula Uaandja, said the main goal is to foster dialogue and cooperation between the Namibian government, businesses, organisations and their EU counterparts. 

Namibia's President Hage Geingob, and prominent figures from the public and private sectors will grace the opening event. 

Uaandja said top on the agenda will be discussions on inclusive green growth, CRMs and green hydrogen (GH2), which are pivotal to the evolving partnership between Namibia and the EU.

Uaandja voiced Namibia's ambitions in the global green hydrogen and CRM market. She said establishing connections and partnerships would enable Namibia to harness its resources sustainably and contribute to global decarbonisation.

“Namibia has the potential to produce green hydrogen for domestic use and potentially for export to the European Union and beyond. Therefore, this forum is primarily anchored in the shared vision of creating linkages and partnerships that will enable Namibia to effectively leverage its resources, not only to contribute to decarbonisation but also to do so as an equal participant,” Uaandja said. 

This initiative coincides with the joint implementation plan between the Namibian and EU governments, aimed at ensuring mutual benefits and enhancing Namibia's role along the green hydrogen and CRM value chains. 

Uaandja also said Namibia's GH2 strategy prioritises local utilisation while also considering global and regional exports.

She said this strategic shift marks a departure from historical trends where African nations predominantly exported raw materials, leading to limited benefits for their citizens. 

“Namibia's commitment to maximising the value generated from its resources and fostering balanced, mutually beneficial relationships underscores the nation's determination to break this cycle,” she said. 

The EU-Namibia Business Forum would be a pivotal moment in the evolving partnership between Namibia and the EU, directing their efforts towards sustainable and mutually beneficial growth. 

The discussions will cover wide-ranging topics, including green growth, critical raw materials, green hydrogen, clean hydrogen derivatives, strategies to mitigate financial risks in the green hydrogen sector, CRM policies, technological advancements and business expansion opportunities. 

Last year's EU-Namibia Trade Forum was held in collaboration with the Ministry of Industrialization and Trade and supported under the €6 million (N$114 million) Economic Partnership Agreement Programme funded by the EU.

 

 

 

 

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Last modified on Wednesday, 18 October 2023 16:36

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