Otjozondjupa regional governor Samuel Nuuyoma has encouraged local authority councils in Namibia to attract foreign investors to their towns by giving them municipal land for free.
Nuuyoma was speaking at the launch of the Otavi Investment Expo and Festival on Friday morning at Otavi Town Council Chambers. He urged municipalities, especially the Otavi Town Council which is still growing, to find a unique way of attracting big investors to set up business at their towns.
"I urge you not to sell your land to the investors, rather get into an agreement with them and give the land to them for free," said Nuuyoma.
He said once a local authority sells a portion of land to an investor, the land will be the property of that individual investor forever.
"That to me means a big loss in the business industry. You have blocked yourself on some future business ideas on that portion of land. Give it for free in order to attract them to come to your town and set up factories and manufacturing companies," said Nuuyoma.
According to him, once a municipal portion of land is given for free to an investor, the local authority will benefit more than selling it.
He explained that the town council will make money by providing municipal services to that investor, and many jobs will be created to boost the economy of the town, while the land remains the property of the municipality.
Nuuyoma further said the investor could be allowed to set up infrastructure on the free portion of municipal land, meaning that when it decides to close shop, the infrastructure will remain, and consequently becomes municipal property.
"Then you can either rent out this infrastructure to another investor or a company with fresh production business ideas, and in the process you keep making money," said Nuuyoma.