Namibia's Cabinet approves petroleum local content policy and establishes Public Assets Management Agency

This policy aims to boost local involvement in the upstream petroleum sector by focusing on job creation, local procurement, enterprise development, technology and skills transfer, research, innovation, and increased Namibian ownership. Cabinet spokesperson Emma Theofelus also announced the approval for the establishment and operation of the Public Assets Management Agency of Namibia Pama as a limited liability public company, with the government as its sole shareholder. Pama will manage the country's commercial public assets.

Additionally, Cabinet endorsed the report on President Netumbo Nandi-Ndaitwah's state visit to China from July 6 to 10, directing ministries to develop implementation plans for cooperation areas, which focused on industrialization, local value addition, employment, skills development, technology transfer, and export diversification. The report on the Namibia-South Africa Bi-National Commission was also endorsed, with government institutions directed to implement decisions and report progress by the 2027 mid-term review. Furthermore, Namibia's national process to ratify the African Continental Free Trade Area AfCFTA phase two protocols on investment, competition policy, digital trade, intellectual property rights, and women and youth was approved.

The 26th Cabinet meeting also considered regional cooperation, peace and security, and a pr