VB.NET namespaces organize code by grouping related type names and reducing name collisions. Namespaces are commonly used to specify which .NET framework libraries are needed for a program. Code can be organized into hierarchies with namespaces nested within other namespaces. For example, the Button class is contained within the System.Windows.Forms namespace, which is part of the larger System namespace that contains many commonly used namespaces like System.IO and System.Collections.