Namibia working on new investment strategies to boost economy – Lucia Iipumbu

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Namibia

Namibia is working on finalizing its investment policy regime to leverage new investment strategies about renewable energies to help resuscitate the economy, Minister of Industrialization and Trade Lucia Iipumbu said Monday.

Speaking at the Namibia Investment Promotion and Facilitation Bill (NIPFB) Stakeholders Consultation in Windhoek, the capital of Namibia, Iipumbu said that the new investment policy regime aims to create a more conducive business environment in the country, providing necessary institutional support while fostering investor-friendly infrastructures.

The minister emphasized the need to modernize and update the investment regulatory and policy regime in Namibia to accommodate new economic dynamics and developments.

A draft of the NIPFB was tabled in the national assembly in November 2021. Still, it was withdrawn following calls for further consultations, leading to a technical committee tasked with considering concerns and proposing suitable amendments.

Ultimately, the NIPFB seeks to align with Namibia’s national developmental objectives, focusing on stimulating industrialization, transforming the economy, and attracting both sustainable foreign and domestic direct investments, the minister added.

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