Minister of Industries, Mines and Energy Modestus Amutse has tabled the Namibia Investment Promotion and Facilitation Bill in the National Assembly.
The Bill aims to create a clear legal framework for promoting and facilitating domestic and foreign investment while protecting local economic interest and ensuring that investments contribute to economic growth, job creation and national development.
Amutse says the bill advances a clear national aspiration to attract and retain investment that creates decent employment, builds productive industries, develops skills and enables more Namibians to participate meaningfully in economic activities.
He called for the bill to be finalised as a matter of urgency, as it reflects the importance of investment in creating jobs, transferring knowledge and technology, diversifying production and strengthening the revenue base that supports public services.
"Namibia has opportunities across mining, blue economy, agriculture, oil and gas, renewable energy, green hydrogen and logistics, alongside established strength in tourism and other services. Granted, Namibia also has a demographic advantage that can turn these opportunities into real economic activities. However, realising the potential of these opportunities requires clear rules, effective institutions and sustained cooperation between government, investors and local communities."
The minister stated that the bill supports the national development agenda by providing greater clarity for investors, strengthening investment facilitation and creating a framework for meaningful Namibian participation.
"Namibia welcomes investment and values highly the contribution of both domestic and foreign investors to our development. A competitive investment environment and greater Namibian participation are mutually supportive objectives. With clear rules and effective implementation, we can attract capital, encourage partnerships and create more opportunities for our enterprises and workers. The promulgation of this bill will be an important step. Its success will also require suitable institutions, practical regulations, effective coordination and continued engagement with the private sector and other stakeholders."