Imelda Ambondo
Namibia is pushing for the creation of an innovative market that will prevent anti-competitive practices and ensure a level playing field for businesses.
This was revealed by Deputy Minister of Industries, Mines and Energy, Gaudentia Krohne at the 10th Annual Competition and Economic Regulation (ACER) Week held in Windhoek last week. Krohne said there is a need to deal with regulatory barriers that negatively affect competition and economic efficiency.
She said there is an urgent need to support Small and Medium-sized Enterprises by creating an enabling environment, public welfare and consumer interests while promoting competition.
“Regular interaction among stakeholders at national, regional, and international levels is crucial for knowledge exchange, identifying best practices, and fostering partnerships,” she said.
Krohne said bringing together stakeholders from developed and developing countries, including competition authorities, sector regulators, businesses, and interested parties, is key to advancing competition law and policy worldwide.
“These types of collaborations enhance evidence-based approaches and active engagement by competition authorities to promote competitive markets and address global challenges effectively,” she said.
The event was co-hosted by the Namibian Competition Commission (NaCC) and the Centre for Competition, Regulation and Economic Development (CCRED) from the University of Johannesburg. It brought together leading regional and international experts to discuss the future of competition law and economic regulation across southern Africa.
The Deputy Minister said discussions on digital platform regulations and emerging technologies like renewable energy are key to strengthening the Competition Commission’s mandate.
.
“This ties in with one of the main priority areas as my Ministry is in the process of introducing policy frameworks that will strengthen regulations and address legal loopholes in the government’s strides towards transformative actions aimed at achieving its vision of an industrial nation,” she said.
Krohne said by implementing policies that align with national development goals, the government aims to foster the growth of industries and the upliftment of the social conditions of our people.
“One such policy is the recently launched National Development Plan 6, whose objectives are to promote sustainable economic growth and address the challenges of poverty, unemployment and inequalities,” she said.
She added that the government remains steadfast in its commitment to creating an environment where local businesses can thrive.
“The government is cognisant of the assertion that developing a well-functioning and efficient market economy, which is conducive to investment, trade and development, can only be achieved through fair, just and orderly conduct of an enhanced competitive market in Namibia,” she said.
“Well-designed and effectively implemented competition laws can foster innovation, enhance efficiency, and promote fair market practices, ultimately contributing to economic, social, and environmental progress. By prioritizing key sectors, addressing anticompetitive practices, and ensuring fair competition, competition law can serve as a powerful tool to create equitable opportunities and improve the welfare of all, particularly the most vulnerable,” she said.
Krohne said government agencies such as the Competition Commission, are a vital machinery established to ensure the creation of conducive environments in the various business sectors.
Krohne has hailed the Namibian Competition Commission saying that over its existence of fifteen years, it covered a wide scope of merger applications, investigated anti-competitive conduct and have undertaken research studies in pursuance of its mandate.
“The agency has been impactful in promoting competition in the Namibian economy with the aim of safeguarding the welfare of consumers countrywide, which is the ultimate goal of competition regulation. This, it has done so, without fear or favour and through transparency of its processes and extensive stakeholder engagements,” she said.
COMMENTS