- Namibia drafts regulations to ensure local benefits from its oil industry
- Aims to balance citizen participation with foreign investment
Namibia is drafting “local content” regulations to safeguard jobs and maximise benefits for citizens in its burgeoning oil industry, according to Mines and Energy Minister Tom Alweendo. An intergovernmental committee is working on the Namibian Content Policy, designed to increase the participation of local citizens and companies in the oil and gas sector. “We are at the dawn of an energy revolution that will transform our economy, which is why we must act proactively now,” Alweendo said in a statement on August 20.
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