Exploring Namibia's Policy and Legal Landscape Towards Sustainable Investment in Industry 5.0

Abstract

This study explored Namibia's policy and legal frameworks regarding sustainable investments in the Industry 5.0 era with a special focus on foreign direct investments. A desktop qualitative document analysis of the relevant policies and legal documents was combined with semi-structured interviews carried out with selected key stakeholders. The findings offer policy recommendations to strengthen the impact of these frameworks in ensuring sustainable investments aligned with the goals of sustainable development in Industry 5.0. These include harmonisation of policies, transparency in investment project appraisal, and evaluation. The contracts should incorporate measurable specifications surrounding an investment's contribution to areas such as infrastructure to be developed, upgrading and transfer of skills to local people, sponsorship towards knowledge creation, and capacity building on local people, research and development, and sufficient monitoring and supervision by the relevant bodies to ensure compliance and adherence to the agreed conditions.