Investment climate in Namibia

The Government of the Republic of Namibia is committed to stimulating economic growth and employment through attracting foreign investment. Under the Foreign Investment Act, the Ministry established the Namibia Investment Centre (NIC). The NIC serves as Namibia’s official investment promotion and facilitation office.

It is often the first point of contact for potential investors. The NIC is tasked with assisting investors in minimizing bureaucratic “red tape” by coordinating work with government ministries as well as regulatory bodies.

Namibia has various resources which attract investment in the country that is; uranium, diamonds, gold, copper, and rare earth metals

Regulatory Framework

Namibia Investment Center (NIC)

The NIC is responsible for screening all potential foreign investments. The NIC the credibility of potential investors and their business presentations and gauges the potential economic benefit to the country.

The Foreign Investment Act of 1990

The Foreign Investment Act of 1990 is the primary legislation that governs foreign direct investment in Namibia.

The Ministry of Trade and Industry (MTI)

The Ministry of Trade and Industry (MTI) is the governmental authority which is primarily responsible for carrying out the provisions of the Foreign Investment Act.

Namibian Competition Commission (NaCC)

Namibian Competition Commission (NaCC) established in 2009 under the Competition Act of 2003 is responsible for reviewing mergers to safeguard and promote competition in the Namibian market.

Investment Climate in Namibia has been summarized to include the following

Development partners of Namibia

Double Taxation Treaties in Namibia

Exports of Namibia

International Trade Agreements with Namibia

Investment Guarantees in Namibia

Investment Incentives in Namibia

Investment opportunities in Namibia

Natural resources of Namibia

Trading partners of Namibia

Shipping Status

Namibia Stock Exchange

Namibian Manufacturers Association (NMA) 

 

For more reading

http://www.state.gov/e/eb/rls/othr/ics/2013/204701.htm

http://www.chariotoilandgas.com/operations/namibia/investment-climate/

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