Iipumbu calls for collaborative efforts

07 May 2021 | Economics

TUYEIMO HAIDULA

OMUTHIYA

Industrialisation minister Lucia Iipumbu says collaborative efforts are needed for the country to mitigate the impacts of Covid-19 on the local economy, including the loss of income and jobs.

The latter, she said, is clearly visible and has affected businesses productivity and growth.

Iipumbu was speaking in Oshikoto on Wednesday to discuss matters pertaining to business development and to hear the challenges hampering business operations.

She said the negative impacts of the pandemic on businesses calls for maximum effort to rebuild business resilience, as per the call by President Hage Geingob to ensure that Covid-19 does not surpass efforts to grow businesses and threaten business survival and sustainability.

“The ministry also strives to increase trade and develop and expand the country's industrial base. All these activities cannot be realised in isolation but through consultative meetings such as this one to devise collective interpositions to yield the desired results,” Iipumbu said.

Buy local, grow Nam

She said the ‘Buy Local, Grow Namibia’ campaign launched last October has resulted in securing a significant market and shelf space for local produce.

“The policy’s objective is to develop the informal economy and its participants into the commercially viable and mainstream economy sector, which could contribute to the economic growth of our country and its inhabitants in a sustainable manner.

“The policy will further seek to address challenges faced by the informal economy including infrastructure, entrepreneurial development and institutional support. The policy is to be developed into a national business promotion act to help ensure that it is integrated with the Namibia Investment Promotion Act with the main emphasis on sector reservation and ensuring the attraction of viable and complementary foreign investment,” Iipumbu said.

- [email protected]

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