MIT SSEZ consultations commencing tomorrow

PHILLEPUS UUSIKU Earlier this month, finance minister during the mid-term budget review announced the implementing several policy measures and the Special Economic Zone (SEZ) policy framework was one of them.Shiimi urged the private sector to actively participate in this process and provide inputs to strengthen the proposed suite of investment incentives.The Ministry of Industrialisation and Trade (MIT) will be embarking on public consultations to introduce the National Policy on Sustainable Special Economic Zones (SSEZ). The consultations are set to commence tomorrow in Windhoek.According to the ministry’s spokesperson, Elijah Mukubonda, the SSEZ is a means of fostering industrialisation, investment facilitation, trade and job creation in support of the National Development Plans (NDPs), Industrial Policy and Growth at Home Strategy.The focus of the programme is to attract both local and Foreign Direct Investment (FDI) and promote the export of value-added merchandises. The central goals of the SSEZ among others are: generation of additional economic and spill over activities, facilitating the creation of an industrial complex, strategic economic advantage for targeted investments and industries such as manufacturing, tourism, logistics, agro-processing, automotive, jewellery and chemical, Mukubonda pointed out.SSEZs are geographically designated areas of a country set aside for specifically targeted economic activities, supported through special arrangements and systems that are often different from those that apply in the rest of the country.They are growth engines towards government’s strategic objectives of industrialisation, regional development and employment creation, he added.In the Namibian context, the current incentives such the Export Processing Zones (EPZ), Manufacturers’ and Southern African Customs Union (SACU) rebates will be applicable under the SSEZ. The physical consultations will be held in Windhoek on 19 November 2021 and Walvis Bay on 22 November 2021, respectively, Mukubonda said.The MIT is calling on everyone with interest in Namibia’s industrialisation strategy and ambition to make meaningful contribution at the pedestals made available.Inputs received from the public will be considered in the finalisation and implementation of the National Policy on Sustainable Special Economic Zones policy (SSEZ), he concluded.-phillep@nmh.com.na

MIT SSEZ consultations commencing tomorrow

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MIT SSEZ consultations commencing tomorrow

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