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Industrial policy for parliament


by Tirivangani Masawi
Business

 

The Ministry of Trade and Industry will table the industrial policy in Parliament soon.
Minister of Trade and Industry, Hage Geingob confirmed this at a recent post budget luncheon hosted by Prime Focus business magazine, KPMG and Namibian Chamber of commerce and Industry.
Geingob said Government has already given a nod to the policy after enough scrutiny.
“At this point, I would also want to confirm that the Ministry of Trade and Industry has completed compiling the industrial policy and deliberation in Parliament are expected to start soon,” said Geingob.
The minister has been on record for protecting small industries such as transport, retail and cosmetics sectors.
Government has also been battling criticism of opening up too much business space to foreigners.
The policy is expected to come up with a framework on the engagement between the country and foreign investors as well as create working avenues with local industries in the future.