diff --git a/tsc/internal/transformers/tstransforms/runtimesyntax.go b/tsc/internal/transformers/tstransforms/runtimesyntax.go
index 360a39e323b86..fa413d1f59a03 100644
--- a/tsc/internal/transformers/tstransforms/runtimesyntax.go
+++ b/tsc/internal/transformers/tstransforms/runtimesyntax.go
@@ -557,6 +557,11 @@ func (tx *RuntimeSyntaxTransformer) visitImportEqualsDeclaration(node *ast.Impor
 	}
 
 	moduleReference := tx.Factory().CreateExpressionFromEntityName(node.ModuleReference)
+	if ast.IsIdentifier(moduleReference) {
+		moduleReference = tx.visitExpressionIdentifier(moduleReference)
+	} else {
+		moduleReference = tx.Visitor().VisitNode(moduleReference)
+	}
 	tx.EmitContext().SetEmitFlags(moduleReference, printer.EFNoComments|printer.EFNoNestedComments)
 	if !tx.isExportOfNamespace(node.AsNode()) {
 		//  export var ${name} = ${moduleReference};
diff --git a/tsc/testdata/baselines/reference/conformance/importAliasMergedNamespace.js b/tsc/testdata/baselines/reference/conformance/importAliasMergedNamespace.js
new file mode 100644
index 0000000000000..4ccad04abab4a
--- /dev/null
+++ b/tsc/testdata/baselines/reference/conformance/importAliasMergedNamespace.js
@@ -0,0 +1,87 @@
+//// [tests/cases/conformance/internalModules/importDeclarations/importAliasMergedNamespace.ts] ////
+
+//// [importAliasMergedNamespace.ts]
+namespace N {
+    export namespace M {
+        export class C {}
+    }
+
+    import Local = M.C;
+    new Local();
+}
+
+namespace N {
+    import A = M.C;
+    new A();
+
+    import B = M;
+    new B.C();
+
+    export import D = M.C;
+    new D();
+
+    export import E = M;
+    new E.C();
+
+    import Explicit = N.M.C;
+    new Explicit();
+}
+
+namespace Outer {
+    export namespace Inner {
+        export namespace M {
+            export class C {}
+        }
+    }
+}
+
+namespace Outer.Inner {
+    import A = M.C;
+    new A();
+}
+
+
+//// [importAliasMergedNamespace.js]
+"use strict";
+var N;
+(function (N) {
+    let M;
+    (function (M) {
+        class C {
+        }
+        M.C = C;
+    })(M = N.M || (N.M = {}));
+    var Local = M.C;
+    new Local();
+})(N || (N = {}));
+(function (N) {
+    var A = N.M.C;
+    new A();
+    var B = N.M;
+    new B.C();
+    N.D = N.M.C;
+    new N.D();
+    N.E = N.M;
+    new N.E.C();
+    var Explicit = N.M.C;
+    new Explicit();
+})(N || (N = {}));
+var Outer;
+(function (Outer) {
+    let Inner;
+    (function (Inner) {
+        let M;
+        (function (M) {
+            class C {
+            }
+            M.C = C;
+        })(M = Inner.M || (Inner.M = {}));
+    })(Inner = Outer.Inner || (Outer.Inner = {}));
+})(Outer || (Outer = {}));
+(function (Outer) {
+    var Inner;
+    (function (Inner) {
+        var A = Inner.M.C;
+        new A();
+    })(Inner = Outer.Inner || (Outer.Inner = {}));
+})(Outer || (Outer = {}));
diff --git a/tsc/testdata/baselines/reference/conformance/importAliasMergedNamespace.symbols b/tsc/testdata/baselines/reference/conformance/importAliasMergedNamespace.symbols
new file mode 100644
index 0000000000000..131c4b9bec98d
--- /dev/null
+++ b/tsc/testdata/baselines/reference/conformance/importAliasMergedNamespace.symbols
@@ -0,0 +1,97 @@
+//// [tests/cases/conformance/internalModules/importDeclarations/importAliasMergedNamespace.ts] ////
+
+=== importAliasMergedNamespace.ts ===
+namespace N {
+>N : Symbol(N, Decl(importAliasMergedNamespace.ts, 0, 0), Decl(importAliasMergedNamespace.ts, 7, 1))
+
+    export namespace M {
+>M : Symbol(M, Decl(importAliasMergedNamespace.ts, 0, 13))
+
+        export class C {}
+>C : Symbol(C, Decl(importAliasMergedNamespace.ts, 1, 24))
+    }
+
+    import Local = M.C;
+>Local : Symbol(Local, Decl(importAliasMergedNamespace.ts, 3, 5))
+>M : Symbol(M, Decl(importAliasMergedNamespace.ts, 0, 13))
+>C : Symbol(Local, Decl(importAliasMergedNamespace.ts, 1, 24))
+
+    new Local();
+>Local : Symbol(Local, Decl(importAliasMergedNamespace.ts, 3, 5))
+}
+
+namespace N {
+>N : Symbol(N, Decl(importAliasMergedNamespace.ts, 0, 0), Decl(importAliasMergedNamespace.ts, 7, 1))
+
+    import A = M.C;
+>A : Symbol(A, Decl(importAliasMergedNamespace.ts, 9, 13))
+>M : Symbol(B, Decl(importAliasMergedNamespace.ts, 0, 13))
+>C : Symbol(A, Decl(importAliasMergedNamespace.ts, 1, 24))
+
+    new A();
+>A : Symbol(A, Decl(importAliasMergedNamespace.ts, 9, 13))
+
+    import B = M;
+>B : Symbol(B, Decl(importAliasMergedNamespace.ts, 11, 12))
+>M : Symbol(B, Decl(importAliasMergedNamespace.ts, 0, 13))
+
+    new B.C();
+>B.C : Symbol(A, Decl(importAliasMergedNamespace.ts, 1, 24))
+>B : Symbol(B, Decl(importAliasMergedNamespace.ts, 11, 12))
+>C : Symbol(A, Decl(importAliasMergedNamespace.ts, 1, 24))
+
+    export import D = M.C;
+>D : Symbol(D, Decl(importAliasMergedNamespace.ts, 14, 14))
+>M : Symbol(B, Decl(importAliasMergedNamespace.ts, 0, 13))
+>C : Symbol(A, Decl(importAliasMergedNamespace.ts, 1, 24))
+
+    new D();
+>D : Symbol(D, Decl(importAliasMergedNamespace.ts, 14, 14))
+
+    export import E = M;
+>E : Symbol(E, Decl(importAliasMergedNamespace.ts, 17, 12))
+>M : Symbol(B, Decl(importAliasMergedNamespace.ts, 0, 13))
+
+    new E.C();
+>E.C : Symbol(A, Decl(importAliasMergedNamespace.ts, 1, 24))
+>E : Symbol(E, Decl(importAliasMergedNamespace.ts, 17, 12))
+>C : Symbol(A, Decl(importAliasMergedNamespace.ts, 1, 24))
+
+    import Explicit = N.M.C;
+>Explicit : Symbol(Explicit, Decl(importAliasMergedNamespace.ts, 20, 14))
+>N : Symbol(N, Decl(importAliasMergedNamespace.ts, 0, 0), Decl(importAliasMergedNamespace.ts, 7, 1))
+>M : Symbol(B, Decl(importAliasMergedNamespace.ts, 0, 13))
+>C : Symbol(A, Decl(importAliasMergedNamespace.ts, 1, 24))
+
+    new Explicit();
+>Explicit : Symbol(Explicit, Decl(importAliasMergedNamespace.ts, 20, 14))
+}
+
+namespace Outer {
+>Outer : Symbol(Outer, Decl(importAliasMergedNamespace.ts, 24, 1), Decl(importAliasMergedNamespace.ts, 32, 1))
+
+    export namespace Inner {
+>Inner : Symbol(Inner, Decl(importAliasMergedNamespace.ts, 26, 17), Decl(importAliasMergedNamespace.ts, 34, 16))
+
+        export namespace M {
+>M : Symbol(M, Decl(importAliasMergedNamespace.ts, 27, 28))
+
+            export class C {}
+>C : Symbol(C, Decl(importAliasMergedNamespace.ts, 28, 28))
+        }
+    }
+}
+
+namespace Outer.Inner {
+>Outer : Symbol(Outer, Decl(importAliasMergedNamespace.ts, 24, 1), Decl(importAliasMergedNamespace.ts, 32, 1))
+>Inner : Symbol(Inner, Decl(importAliasMergedNamespace.ts, 26, 17), Decl(importAliasMergedNamespace.ts, 34, 16))
+
+    import A = M.C;
+>A : Symbol(A, Decl(importAliasMergedNamespace.ts, 34, 23))
+>M : Symbol(M, Decl(importAliasMergedNamespace.ts, 27, 28))
+>C : Symbol(A, Decl(importAliasMergedNamespace.ts, 28, 28))
+
+    new A();
+>A : Symbol(A, Decl(importAliasMergedNamespace.ts, 34, 23))
+}
+
diff --git a/tsc/testdata/baselines/reference/conformance/importAliasMergedNamespace.types b/tsc/testdata/baselines/reference/conformance/importAliasMergedNamespace.types
new file mode 100644
index 0000000000000..7dea5f21bf109
--- /dev/null
+++ b/tsc/testdata/baselines/reference/conformance/importAliasMergedNamespace.types
@@ -0,0 +1,104 @@
+//// [tests/cases/conformance/internalModules/importDeclarations/importAliasMergedNamespace.ts] ////
+
+=== importAliasMergedNamespace.ts ===
+namespace N {
+>N : typeof N
+
+    export namespace M {
+>M : typeof M
+
+        export class C {}
+>C : C
+    }
+
+    import Local = M.C;
+>Local : typeof Local
+>M : typeof M
+>C : Local
+
+    new Local();
+>new Local() : Local
+>Local : typeof Local
+}
+
+namespace N {
+>N : typeof N
+
+    import A = M.C;
+>A : typeof A
+>M : typeof B
+>C : A
+
+    new A();
+>new A() : A
+>A : typeof A
+
+    import B = M;
+>B : typeof B
+>M : typeof B
+
+    new B.C();
+>new B.C() : A
+>B.C : typeof A
+>B : typeof B
+>C : typeof A
+
+    export import D = M.C;
+>D : typeof A
+>M : typeof B
+>C : A
+
+    new D();
+>new D() : A
+>D : typeof A
+
+    export import E = M;
+>E : typeof B
+>M : typeof B
+
+    new E.C();
+>new E.C() : A
+>E.C : typeof A
+>E : typeof B
+>C : typeof A
+
+    import Explicit = N.M.C;
+>Explicit : typeof A
+>N : typeof N
+>M : typeof B
+>C : A
+
+    new Explicit();
+>new Explicit() : A
+>Explicit : typeof A
+}
+
+namespace Outer {
+>Outer : typeof Outer
+
+    export namespace Inner {
+>Inner : typeof Inner
+
+        export namespace M {
+>M : typeof M
+
+            export class C {}
+>C : C
+        }
+    }
+}
+
+namespace Outer.Inner {
+>Outer : typeof Outer
+>Inner : typeof Inner
+
+    import A = M.C;
+>A : typeof A
+>M : typeof M
+>C : A
+
+    new A();
+>new A() : A
+>A : typeof A
+}
+
diff --git a/tsc/testdata/tests/cases/conformance/internalModules/importDeclarations/importAliasMergedNamespace.ts b/tsc/testdata/tests/cases/conformance/internalModules/importDeclarations/importAliasMergedNamespace.ts
new file mode 100644
index 0000000000000..e625577d740fd
--- /dev/null
+++ b/tsc/testdata/tests/cases/conformance/internalModules/importDeclarations/importAliasMergedNamespace.ts
@@ -0,0 +1,42 @@
+// @strict: true
+// @target: es2022
+// @module: commonjs
+
+namespace N {
+    export namespace M {
+        export class C {}
+    }
+
+    import Local = M.C;
+    new Local();
+}
+
+namespace N {
+    import A = M.C;
+    new A();
+
+    import B = M;
+    new B.C();
+
+    export import D = M.C;
+    new D();
+
+    export import E = M;
+    new E.C();
+
+    import Explicit = N.M.C;
+    new Explicit();
+}
+
+namespace Outer {
+    export namespace Inner {
+        export namespace M {
+            export class C {}
+        }
+    }
+}
+
+namespace Outer.Inner {
+    import A = M.C;
+    new A();
+}