Interview with H.E. Mr Bonny Haufiku, Ambassador of the Republic of Namibia to Finland
Economic outlook of Namibia today – and what are the prospects for the country?
Namibia’s economy is heavily based on natural resources. After strong growth between 2010 and 2016 Namibia’s economy and that of many other countries entered to a recession as a result of global financial and economic downturn. Namibia has also suffered from the prolonged drought and shortage of water which has severely affected agriculture and wildlife. Also the modernisation and reforms of the Southern African Customs Union (SACU) Customs Systems, Procedures, Processes, Policies and Legislation in the SACU Member States will result in advance on the technological capabilities and reduction of inefficiencies related to the burdensome requirements to move goods across the borders and to promote seamless movement of goods and services; efficient, transparent and predictable trading environment and payments of trade transactions.
Namibia and other SADC Member States are committed to enhance the ease of doing business in oil and gas exploration, construction, education, health, environment protection, agriculture, finance and investments.