By: Dolly Menas
Cabinet has approved the National Upstream Petroleum Local Content Policy.
The policy aims to promote economic sovereignty and reduce Namibia’s dependency on foreign expertise and build its local capacity.
Cabinet has also mandated the Minister of Mines and Energy to share the policy with industry players and stakeholders in all the fourteen regions and resubmit to Cabinet for final approval.
The policy introduced, in 2020, supports the development of local expertise in the upstream petroleum sector, by enabling the development of internationally competitive Namibian workforce and companies in the upstream petroleum sector to participate in a meaningful and sustainable way across the value chain and supporting NAMCOR becoming a world class upstream operator.
The government, through the policy, aims to diversify Namibia’s revenue sources beyond taxes and royalties by emphasising value extraction through backward, sideways, and forward linkages.
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