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 minister revealed that the Ministry has been working tirelessly to finalise the new Investment Act, which is currently undergoing final consultative engagement is committed to finalising this process to ensure that Namibia addresses the policy gap when it comes to the investment environment to avoid investors' uncertainty. Although global investment levels have experienced a downturn, exacerbated further by the Pandemic and ongoing geo-political matters around the globe, the Namibian economy has been severely affected, along with many other countries. 

Namibia's fallback position remains the outdated Foreign Investment Act (FIA), which she believes that does not embrace newer investment dynamics