WINDHOEK: The Namibia Local Businesses Association (Naloba) on Wednesday hosted a conference to discuss the collapse of local businesses and how the local economy can be revitalised.
In his keynote speech read on his behalf at the event in Windhoek, President Hage Geingob said the conference serves as an essential platform to discuss the revitalisation and sustainability of Namibia’s businesses and economy.
“This is especially critical given the global economic downturns, the severe drought that has recently affected our country and economy, and the devastating COVID-19 pandemic, which has exacerbated the challenges we were already facing,” the president said.
Geingob emphasised Government’s commitment to delivering social and economic progress for citizens, adding that one of the post-pandemic economy recovery measures is the finalisation of the Namibia Investment Promotion Act. The policy framework, he stressed, will unlock opportunities for local investors.
He further called on the private sector and the general public to engage in business, propose interventions, and suggest changes to policies and laws meant to shape the economy, improve the ease of doing business, and consequently create much-needed industries and jobs.
Naloba vice president Peter Amadhila said the conference, a first of its kind, would identify strategies and mechanisms for the government to provide financial assistance to businesses and aspiring entrepreneurs.
Source: The Namibia Press Agency