Namibia: Govt Keen to Take into account Incentives Allowances

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Buyers keen to spend money on Namibia, however who’re in search of incentives, can method the federal government to have their requests thought of whereas the nation is finalising its incentives laws.

This was stated by Namibia Funding Promotion and Improvement Board (NIPDB) chief govt officer Nangula Uaandja whereas answering questions on the Put money into Namibia session on the Russia-Africa Summit, at present underway in St Petersburg.

Uaandja stated ought to an investor have a possible challenge that might make sense with incentives, the Ministry of Industrialisation and Commerce, the Ministry of Finance and Public Enterprises, and the NIPDB, will contemplate the request to see the way it may very well be applied.

She stated a part of these calls by buyers are additionally what is taken into account within the finanlisation of the particular financial zone laws that’s anticipated to be tabled earlier than parliament in 2024.

Updating buyers on the particular financial zone laws anticipated to provide desire when it comes to incentives to sure corporations concerned primarily within the export and manufacturing area, commerce minister Lucia Iipumbu stated the coverage underpinning the legislation has already been permitted by Cupboard.

“We’re at a sophisticated stage, and the act can be accomplished, and will probably be in parliament by the top of the present fiscal yr, which is about March or April (2024),’ she stated.

On the session, Uaandja promoted Namibia’s tourism, vitality, logistics and agriculture potential to a bunch of buyers, which she stated will work greatest for “exports”.

Members of parliament, together with the Widespread Democratic Motion’s Vipuakuje Muharukua, former finance deputy minister Natangwe Ithete, and director of the Nationwide Planning Fee Obeth Kandjoze, had been additionally in attendance.

E-mail: [email protected]

Twitter: @Lasarus_A


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