The Minister of Industrialisation and Trade, Lucia Iipumbu, is confident that the Investment Promotion and Facilitation Bill, once it becomes law, will attract, retain, and facilitate both domestic and foreign sustainable investments.

Iipumbu said this during a stakeholder consultation meeting on the Investment Promotion and Facilitation Bill.

The government believes that investments and trade activities, especially in the manufacturing, farming and agro-processing business sectors are fundamental to economic growth.

This was said by the Minister of Industrialisation and Trade, Lucia Iipumbu when she officially opened the 13th Eenhana Expo in Ohangwena region.

The expo is being held under the theme: "Reviving Local Economy Rhrough Business Resilience, Innovation and Diversification "

Foreign investors have been urged to approach the Namibian government if they have specific incentives they want to be considered before investing in Namibia.

This was said by the Chief Executive Officer of the Namibia Investment Promotion and Development Board (NIPDB), Nangula Uaandja, at the ‘Invest in Namibia’ session at the Russia-Africa Summit in St. Petersburg.

Namibia is promoting tourism, logistics, energy, and agriculture at the 2nd Russia-Africa Summit as key sectors to attract and retain investments and partnerships.

A heated debate unfolded in the National Assembly over the proposed amendments to penalties for companies failing to comply with regulations related to the maintenance of beneficial ownership records.

The amendments suggest a fine exceeding N$10 million or imprisonment for a period not exceeding 10 years, or both, for offences committed knowingly.

In response to concerns about the proportionality of the penalties, the Minister of Trade and Industrialization, Lucia Iipumbu, reiterated that the maximum penalty of N$10 million did not imply a one-size-fits-all approach.

The Minister of Trade and Industrialization, Lucia Iipumbu, has presented two motions in the National Assembly to amend laws and regulations related to the Companies Act of 2004 and Close Corporations.

The Namibia Investment Promotion and Facilitation Bill, if unchanged, will see the introduction of compliance officers to ensure that businesses operate within the confines of the laws.

Speaking at the stakeholders' engagement at Keetmanshoop, the Minister of Trade and Industrialization, Lucia Iipumbu, explained the benefits that come with the bill once it becomes law, as well as the National Consumer Policy and the Liquor Act.

The Minister of Industrialization and Trade, Lucia Iipumbu, has described Namibia's participation at the 53rd General Assembly of the World Trade Centre Association in Accra, Ghana, as a success.

The event was held in Africa for the first time, and the participation of many countries on the continent, including Namibia, has made it all the more spectacular.

Iipumbu commended the government of Ghana for giving Namibia the opportunity to participate in the World Trade Centre Association.

The Minister of Trade and Industrialisation Lucia Iipumbu has urged the business community to promote investment opportunities at home and internationally through trade.

Ipumbu says as the custodian of business development in the country, the ministry will continue to look at different avenues to assist businesses to develop and grow.

During this financial year, the ministry plans to roll out the limited support programme and facilities aimed at assisting the SME sector to grow.

The programme will kick off with the training of young entrepreneurs.

The Ondangwa Trade and Industrial Exhibition has transformed into one of Namibia's primary trade exhibitions, with the organisers succeeding in positioning the event as a prime nationally recognised event.

These were the remarks of Trade and Industrialization Minister Lucia Iipumbu when she officially opened the 10th edition of the Ondangwa Trade and Industrial Exhibition.

This year's expo brought together over 200 local exhibitors.

Ondangwa Mayor Paavo Amwele says the expo has grown over the years.

The Minister of Industrialization and Trade, Lucia Iipumbu, says there is an urgent need for action on climate change, as Namibia only contributes 0,003% of greenhouse gases globally.

IIpumbu was speaking at the Decarbonizing Namibia Conference in Windhoek, which focused on strategies and policies to reduce greenhouse gases in heating, ventilation, and cooling.

Namibia, like many countries around the world, is grappling with the effects of climate change, including rising temperatures, droughts, and floods.