The N$190 million Peugeot Opel assembly plant at Walvis Bay was officially opened on Wednesday by president Hage Geingob.
During the opening ceremony, president Geingob said the plant increased the Namibia's national development aspirations and signified to the international community the country's intent to become one of the premier destinations for foreign direct investment into Africa.
"This is a significant event for the development of the Erongo region, most notably for Walvis Bay," he said.
He also said that since independence it has been a government objective to create conditions necessary for increased investment and the development of a competitive industrial sector.
"Furthermore, in recent years, we have intensified efforts to promote local value addition and strengthening of forward and backward linkages within the Namibian economy," he said.
See full report in the next edition.