Lesotho shall assume a leadership position in the Sub-region and in Africa as an investment destination of choice and shall be competitive in the multilateral trading system while maintaining highest consumer protection standards. These will be achieved through development of policies conducive to promotion of entrepreneurial skills and transfer of appropriate technology and application of cutting edge technology and through smart partnership of the public and private sectors.

Mission

With regard to the above factors, the new mission statement for the Ministry has been set as follows:

“To create and maintain a more equitable and enabling environment for industrial, agri-business and commercial development”.

The Ministry will fulfill this by committing itself to:

Formulating and monitoring the implementation of appropriate commercial, marketing and industrial development policies and enforcing supporting legislation;

Establishing institutional frameworks which promote foreign direct investment and domestic participation in terms of the country’s commercial, marketing and industrial activities;

Fostering the global competitiveness of Lesotho’s economy based on comparative advantage

To achieve its long-term mission, the Ministry has set the following goals:

To attract foreign investment in order to broaden the country’s industrial base and improve employment opportunities for the Basotho;

To identify and assist local entrepreneurs and the farming community to utilize export opportunities in order to improve the country’s foreign exchange earnings and create growth in the industrial, commercial and agricultural sectors;

To facilitate the creation of a conducive and appropriately regulated environment for commercial and marketing activities in the country in order to improve the performance, and to support the growth, of local entrepreneurs and farmers;

To foster Lesotho’s effective participation in international and regional trade organizations and maximize its benefits from treaties to which it is a signatory;

To increase producers market share, profit margins and on-farm income

Objectives of the Ministry

In addition to the mission statement and goals of the ministry provided above, the following supporting objectives were recommended by the workshop:

To formulate and monitor the implementation of appropriate policies for commercial and industrial development and enforce enabling legislation in order to promote the development of trade, industry and marketing in Lesotho;

To develop and promote relevant quality and productivity programs in order to enhance Lesotho’s competitive position in the liberalized global economy;

To develop appropriate Small and Medium Enterprise (SME) programs which promote their integration into the mainstream of economic activities in order to increase their participation in the production of value added goods and export markets;

To foster smart partnerships between government and the private sector in order to promote their participation in development programs and employment creation;

To promote the transfer of appropriate skills and technology between foreign investors and local entrepreneurs in order to enhance sustainable agro and industrial development.

To develop and coordinate institutional frameworks so as to support and enhance entrepreneurship skills development;

To legislate, promulgate, and enforce appropriate consumer protection legislation in order to protect the interests of the consumers and create greater awareness of their rights;

To promote and facilitate development of both international and local markets;

Improve producers’ agri-business skills.