Final preparations for the tabling of the long-awaited Investment Promotion Bill in the National Assembly are in full swing.

The Minister of Industrialisation and Trade, Lucia Iipumbu, says the Bill and accompanying regulations and policies will be tabled during the second quarter of the year.

The policy on the Special Economic Zone will also be tabled.

In November 2021, it was withdrawn from the National Assembly after it was tabled in that legislature chamber. 

A technical committee comprising senior officials from key public institutions was set up to consider the concerns raised and present appropriate amendments and recommendations to the Cabinet for endorsement. 

Iipumbu says consultations have now been completed, and the input garnered has been presented to the government's legal drafting team.

Consultations on the regulations and policy of the Investment Promotion Bill and the policy of the Special Economic Zones will continue next week in Walvisbay. 

The coastal business community, which comprises major sectors such as fishing, mining, and tourism, is particularly invited to the meeting on April 15.

The Minister says it is imperative that the investment promotion bill be tabled in the National Assembly in the second quarter of the year.

Once enacted, the new investment policy regime will enhance a conducive business environment in Namibia to fully leverage new investment strategies within an updated investment legislative and policy framework.