Trade ministry's budget cuts affects SMEs
03 May 2017 13:00pm
ONDANGWA, 03 MAY (NAMPA) The Ministry of Industrialisation, Trade and Small and Medium Enterprises (SME) Development did not sponsor SMEs participation in this years Ondangwa Trade and Industrial Exhibition (OTIE) due to budgetary constraints.
Line minister, Immanuel Ngatjizeko said this in a statement read on his behalf at the official opening of the 2017 OTIE held at Ondangwa in the Oshana Region on Tuesday.
Ngatjizeko said not sponsoring SMEs created an opportunity for the ministry to re-evaluate its involvement in trade fairs and formulate best interventions that are sustainable in the long run.
He indicated that his ministry will soon engage all relevant stakeholders in the exhibition industry to critically analyse and assess local trade fairs.
The ministrys focus is to create an environment that is conducive for investment and businesses to take place and grow, he said, adding that businesses also need access to affordable business premises, financing, production, equipment, inputs and markets for their products.
Ngatjizeko said he was glad to observe that five industrial workshops constructed in Oshana Region at a cost of N.dollars 20 million through his ministry are completed and operational.
According to him, a garment factory is also planned to be constructed by his ministry in the Oshana Region in the near future.
He then urged companies and individuals to take advantage of the OTIE and other related forums to exhibit their products and seek business ventures.
The exhibition attracted close to 300 local exhibitors showcasing their products and services from last Friday to this Friday.
It is the seventh edition of the OTIE and is this year being hosted under the theme Empowering Businesses towards an Industrialised Nation.