Typesetter | Mar 23, 2017 | 0
Growth at Home plan almost ready
The Ministry of Industrialization, Trade and Small and Medium Enterprise Development is currently finalising the Growth at Home financing plan which is likely to be ready by the end of September.
The Deputy Permanent Secretary, Ministry of Industrialization, Dr Michael Humavindu speaking to the Economist said that Namibia Industrial Development Agency, NIDA which is a merger between the Development Corporation (NDC) and the Offshore Development Corporation (ODC) is likely to open its doors in June 2016.
Unlike the NDC, NIDA will be proactive rather than reactive, Humavindu said. Adding that no major changes are planned for the ongoing projects.
NIDA has been allocated initial capitalisation of N$50 million in the 2015/2016 budget of the ministry.
Humavindu said that the creation of NIDA is based on streamlining efforts and better service delivery in terms of collective national efforts to optimize on local as well as regional industrialisation ambitions.
Ongoing projects and planned activities of the NDC will continue under NIDAand no major changes are envisioned, said Humavindu.
Commenting on the institutional set-up for the development agency, Humavindu said that NIDA’s final structure is to be designed as per the notion of ensuring that it drives industrialization using the National Industrial Policy of 2012 and the Growth at Home Implementation Strategy as guides. A fully fledged business plan for NIDA, inclusive of an institutional structure is envisaged to be completed by end of 2015.
This is not the first attempt at changing the structure of the NDC. In October 2007, a Cabinet decision reversed an earlier decision to close the NDC and merge it with the Development Bank of Namibia. It was directed that the NDC be repositioned to assist government with the implementation of projects.