The Ministry of Industrialisation and Trade (MIT) is finalising the introduction of a Special Economic Zones regime, that will allow for the development of cluster industries to help improve the problem of scale economies, especially in rural settings in the regions.
This was announced by the Minister of Industrialisation and Trade Lucia Iipumbu, while addressing the Oshana Regional Investment Conference at Oshakati on Thursday.
Iipumbu in a speech availed to Nampa said the conversations around regional investment promotion and development are an indication of things to come when it comes to national strategies. “Thus as much as we will converse on investment opportunities and potential thereof for the Oshana region, let us also ensure that we also provide ample opportunities for other locations especially rural areas investments and development.”
She said, from a policy perspective, special economic zones will also help a major economic hub such as the Ondangwa-Ongwediva-Oshakati to consider opportunities such as fertilizer and animal-feed manufacturing to help shore up the agro-processing potential of the region.
“In terms of industrial and business development agenda in the region, the Ministry embarks upon constructing various industrial and Micro, Small and Medium Enterprises (MSME) parks, the industrial stalls in Oshakati, the workshop in Oshakati and the Namibia Beverage Factory in Oshakati amongst others,” she added.
These industrial development interventions provide ample opportunity in terms of developing a regional investment strategy as well as optimising opportunities that may arise through the Special Economic Zones regimes and their attendant incentives, she said.
“In addition to industrial development interventions, market access and opening opportunities thereto remain a preoccupation of the MIT. To this end, the creation of the African Continental Free Trade Area (AfCFTA) is a major market access opportunity along with the Southern African Development Community (SADC) and Southern African Customs Union (SACU) trading areas of which we are part. This provides ample opportunity to explore and invest in regional investment opportunities that can unlock such markets for Namibia,” Iipumbu explained.
Source: The Namibian Press Agency
