Manufacturers face 'crippling blow'

14 July 2020 | Business

If the political will is not there to create this 'enabling environment', then we are in great trouble. – Ronnie Varkevisser, CEO: NMA

The Namibian Manufacturers Association (NMA) yesterday “strongly condemned” government's decision to phase out “sector specific special income incentives granted to registered manufacturers” by the end of the 2020/21 tax year.

“By repealing these incentives, the already struggling manufacturing sector (and the economy at large) will be dealt a crippling blow,” the chief executive officer of the NMA, Ronnie Varkevisser, said in a statement.

The decision was gazetted and published on 22 June 2020.

“The NMA strongly condemns this decision and requests that government rather support the private sector, especially the manufacturing industry, in the form of incentives and thereby give them the necessary room to do business,” Varkevisser said.



'Huge potential'

He said government took the decision “despite the huge potential of the manufacturing sector to create jobs and thereby supporting the Namibian economy”. “There are various examples of the positive effect manufacturing incentives had on creating jobs,” Varkevisser added.

To grow the economy and the manufacturing sector is a “slow and painful process”, he said.

“It all starts with an enabling environment, which includes the necessary incentives to attract investments. However, if the political will is not there to create this 'enabling environment', then we are in great trouble,” Varkevisser said.

The NMA will continue to advocate and engage with government and all other stakeholders to maintain its efforts of raising awareness of the need to support local manufacturers, as manufacturing has a huge positive spill-over effect to other economic sectors, he said.

Similar News

 

Tough times for mines in Nam

21 hours ago | Business

Jo-Maré Duddy – Of the 16 operating mining companies included in the latest annual review of the Chamber of Mines of Namibia, six last year...

Street vendors return to normal

21 hours ago | Business

Street vendors that sell fruit and vegetables at Outjo and Khorixas said that business has returned to normal and customers are received in numbers as...

SA drops court challenge on mining BEE

21 hours ago | Business

JOHANNESBURG - South Africa’s mines minister has withdrawn an appeal of a court ruling that held that mining companies did not have to maintain at...

COMPANY NEWS IN BRIEF

21 hours ago | Business

Oil major Chevron invests Oil major Chevron Corp said it is investing in Zap Energy Inc, joining Italy's ENI and Norwegian state oil company Equinor...

Jaguar ready to seduce SA

21 hours ago | Business

The new Jaguar F-TYPE has arrived in South Africa with an even more dramatic design, improved dynamics and increased focus on driver engagement.Available in both...

Business for vendors return to normal

1 day - 13 August 2020 | Business

KHORIXAS – Street vendors selling fruit and vegetables at Outjo and Khorixas say business has returned to normal and customers are received in numbers similar...

Fuel prices, virus brake taxi industry

1 day - 13 August 2020 | Business

Long-distance drivers in the south of Kunene say their business has been negatively affected by the recent increases in fuel prices and by the current...

COMPANY NEWS IN BRIEF

1 day - 13 August 2020 | Business

Tesla sets 5-1 stock split Tesla Inc on Tuesday announced a five-for-one stock split, sending the electric carmaker's recently high-flying shares up 7% in extended...

COMPANY NEWS IN BRIEF

2 days ago - 12 August 2020 | Business

Nutrien cuts profit forecast Canadian fertilizer maker Nutrien Ltd cut its annual adjusted profit forecast as weaker-than-normal industrial demand held back prices for ammonia and...

Boost business to boost growth

3 days ago - 11 August 2020 | Business

Erongo governor Neville Andre-Itope has called on business owners to explore new ways in order to reignite their respective businesses and the country’s economy.Andre-Itope made...

Latest News

Thought leadership

21 hours ago | People

NDANGI KATOMAIn a very short time, the coronavirus has changed so much about our lives.It is easy to think you’ll never get ahead when you...

Marketing through the lens of...

21 hours ago | People

ESTER KAMATIAs part of the DOLOLO group of entrepreneurs and a 2019 alumnus of the Africa Pathfinders Leadership initiative, Andreas Elifas’s objective is to attain...

Price monster hungry

21 hours ago | Economics

Although annual overall inflation in Namibia last month stayed unchanged at 2.1%, annual overall food inflation increased to 6.2% - up from 4.9% in June...

Tough times for mines in...

21 hours ago | Business

Jo-Maré Duddy – Of the 16 operating mining companies included in the latest annual review of the Chamber of Mines of Namibia, six last year...

Fishing quota auction storm grows

21 hours ago | Fishing

OGONE TLHAGEWINDHOEKGovernment's decision to auction off its fishing quota, and then use the proceeds to finance its efforts to fight the Covid-19 pandemic is continuing...

Samherji begs for release of...

21 hours ago | Fishing

OGONE TLHAGEWINDHOEKIcelandic firm Samherji, which is at the centre of the Fishrot bribery scandal, has asked Namibian authorities to release its fishing vessel Heinaste, which...

Education kneecapped by shortage of...

21 hours ago | Education

KENYA KAMBOWERUNDUEducation minister Anna Nghipondoka says Namibia has a backlog of over 5 000 classrooms, which has made it a challenge to comply with the...

Growing hip-hop in the north

21 hours ago | Art and Entertainment

MICHAEL KAYUNDE WINDHOEKSkipper Wills' breakthrough came in 2017 when he was selected to take part in the Old & New hip-hop documentary. He has since...

Kay-Z Bearens on his 2020...

21 hours ago | Art and Entertainment

MICHAEL KAYUNDE WINDHOEK Rapper Kay-Z Bearens released his first single in 2015, and though on the underground scene, he's pushed his music over the years.In...

Load More