India Steel Market Watch
October 29: Many Indian companies want to invest in Namibia in the area of minerals, but difficulties in obtaining work permits and requirement of South African transit visas are hampering their plans, Steel and Mines Minister Narendra Tomar has said.
Tomar said this during a meeting with Namibia's Minister for Mines and Energy Obeth Kandjoze on October 27 and highlighted the need for mutual co-operation in the area of mineral resource development.
He pointed out that India and Namibia had signed a memorandum of understanding (MoU) in 2009 for co-operation in the field of geology and mineral resources and a Joint Working Group had also been constituted to take things forward, but not much development has taken place since then.
Both the ministers were in agreement that implementation of the MoU needs to be expedited and the next meeting of the Joint Working Group has to be held at the earliest, an official release from India’s Mines and Steel Ministry said.
The Namibian minister acknowledged that the issues raised by Tomar are indeed bottlenecks to increasing investment in Namibia and his government is taking all possible steps to remove the hurdles.
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