MIRT consults Kavango West community on Investment Promotion Bill - nbc

The Ministry of International Relations and Trade (MIRT) held consultations with the community of Kavango West at Nkurenkuru on the Namibia Investment Promotion Bill and its regulations.

The consultations aim to source input before the Bill is finalised. Government officials, entrepreneurs and community members gathered to discuss how the proposed law could attract investment, strengthen local businesses and drive economic growth.

The Chief Regional Officer (CRO) of Kavango West, Matheus Singambwe, urged Namibians to view foreign investors as positive competitors and to learn from them.

"There are those that we may see are not good to compete with because they are more advanced. But how can we learn from them so that we are also able to tap and benefit from the resolutions or the resources that we have? And with that out of the way, the Namibia Investment Promotion Agency is with us as stakeholders, and we should be able to support and provide a reflection of what it is that we want to see our economic sectors achieve."

The Deputy Director of Trade Promotion in the MIRT, Sakeus Kapenda, said involving the business community in drafting the BILL is crucial.

"We want to emphasise that this bill remains not only our highest priority to be promulgated but also for her excellency, the President; it has become more paramount than ever that the current uncertainty created for investors is addressed, and moreover, that our investment environment and doing business are improved."

Some attendees also made input and sought clarity on certain aspects of the Bill.

"I just want to know if the bill really makes provision for protection of certain infant industries or sectors."

"The word may, creates a lot of loopholes, because that person may not be obliged to do a certain functionality."

Karl Kangondo is the Deputy Director of Planning and Development in the Kavango West Regional Council.

"The Kavango West Regional Council wants to know what is there really for the region, in terms of maybe the shares that we have to sign to also consult extensively with our inhabitants and the beneficiaries, to see at the end of the day out of the investment that we have to sign, or a project of that national importance that is within this region, because we have to know, how will it really have a direct impact on the community? And then we are able to engage our business people, because we know where they operate, where our constituencies are, and the economic potential of the region. Then we are able to direct the beneficiation of the value addition of the resources that we have."