The Minister of Industrialization and Trade, Lucia Iipumbu, has introduced a relief programme to waive a staggering N$275 million in penalties accumulated by non-compliant businesses from 2012 to 2022.
The Minister of Industrialization and Trade has called for the creation of a database storing information on informal sector traders.
The business communities from Namibia and South Africa held their first-ever business forum with the aim of deepening their economic ties.
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.
The government believes that investments and trade activities, especially in the manufacturing, farming and agro-processing business sectors are fundamental to economic growth.
Foreign investors have been urged to approach the Namibian government if they have specific incentives they want to be considered before investing in Namibia.
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 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.
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.
