TRADE & INVESTMENT PROMOTION and the Department of Trade and Commerce comprising the Directorate of International Trade and the Directorate of Commerce and Directorate of Administration. THE PERMANENT SECRETARY Tel +264 61 283 7332 Fax +264 61 22 0227 mlindeque@mti.gov.na www.mti.gov.na
Namibia Investment Centre Hon Immanuel Ngatjizeko Minister
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he Ministry of Industrialisation, Trade and SME development is responsible for the development and management of Namibia’s economic regulatory regime, on the basis of which the country’s domestic and external economic relations are conducted. It is also responsible for promoting growth and development of the economy through the formulation and implementation of appropriate policies to attract investment, increase trade, and develop and expand the country’s industrial base. The Ministry’s efforts are directed at four key activities: • Investment promotion • Promotion of manufacturing activity • Growth and diversification of Namibia’s exports and export markets • Promotion of growth and development of small and medium-sized enterprises Recognising the critical role of the private sector as the engine of economic growth, the Ministry of Industrialisation, Trade and SME development strives to facilitate development of this sector through the creation of a business-friendly environment and stimulation of private-sector investment. Its work in this regard includes the formulation of appropriate legislative instruments and institutions for the effective provision of industrial infrastructure, enterprise development, export and investment promotion, export services and facilities. The four main divisions of the Ministry are the Namibia Investment Centre, the Directorate of Industrial Development, 18
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NIC is the country’s official investment promotion agency and first port of call for investors. Created under the Foreign Investment Act of 1990, the overall objective of the NIC is to attract foreign investment to stimulate economic growth and expedite industrial transformation in Namibia. The attainment of this objective will undoubtedly contribute to the noble goals of Vision 2030. The responsibility of creating policies and strategies conducive to investment lies with the Ministry of Industrialisation, Trade and SME development, specifically with the Namibia Investment Centre. NIC offers a variety of services to existing and potential investors, including the provision of information on incentives, investment opportunities and the country’s regulatory regime. It is closely linked to key ministries and service bodies, and can therefore help minimise bureaucratic obstacles to project implementation. NIC works closely with the Offshore Development Company (ODC), the flagship of Namibia’s tax-free export processing zone regime, to promote foreign direct investment in export-oriented manufacturing activities. NIC has overseas investment promotion representatives in strategic located countries such as Germany (Berlin), India (New Delhi), South Africa (Pretoria) and USA (Washington DC). Plans are underway to set up commercial offices in other identified locations of economic importance elsewhere in the world. Namibia has a competitive incentive and fiscal regime complemented by a low cost and conducive business environment that adds to its appeal as the most ideal location for domestic and
foreign investors. The cornerstones of this environment are the Foreign Investment Act (its provision for a Certificate of Status Investment), the special incentives for manufacturers and exporters, and the export processing zone incentives.The current Foreign Investment Act of 1990 (amended in 1993), is currently under review in order to formulate a modern investment law.
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The new investment law is expected to address the following, in: Defining a domestic and foreign investor, as well as investment; • Restricting some economic subsectors from foreign investors; • Defining investor performance requirements; • Ensuring that admission procedures for foreign investors are transparent; • Making investor registration compulsory, and hence introduce a crucial aspect of investor tracking and management; • Setting clear guidelines for investor dispute procedures.
The Executive Director Tel +264 61 283 7335 nic@mti.gov.na investnamibia@mti.gov.na
Incentives for registered manufacturers and exporters of Namibian manufactured goods are provided. In comparison to EPZ incentives which require a beneficiary’s target market to be outside the SACU market, registered manufactures and exporters of Namibian manufactured goods can also benefit entrepreneurs whose main target market is the Southern African Customs Union (SACU). To benefit from the scheme, an investor must register with the Ministry of Finance as a manufacturer or an exporter of Namibian manufactured goods. The Namibian Investment Centre assists investors with this registration process. Namibianbased entrepreneurs who export their products outside this market are also entitled to benefits under the scheme. Investment promotion services encompass: • Facilitating inward and outward business missions • Facilitating of international investment fairs and seminars
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Business matching with prospective foreign investors with locals Profiling and promoting investment projects Providing advisory services on available incentive packages Investor admission Assisting investors to obtain work permits and business visas Facilitating investor aftercare
Directorate Industrial Development The Directorate of Industrial Development is responsible for evaluating and appraising industrial projects. It sponsors feasibility studies, research and surveys of potential development areas and renders support and advice to potential developers and investors. The Directorate is also engaged in the production of industrial statistics, and conducts regular censuses of the manufacturing sector. It furthermore collates information on appropriate industrial technology. The Directorate oversees and co-ordinates the development of small and medium enterprises. This includes input into the six areas that comprise the Government’s SME development programme, namely: • Facilitation of access to finance • Construction of sites and premises • Technology transfer • Purchasing of raw materials • Marketing • Entrepreneurial training The Directorate’s primary role is to facilitate: • Diversification of the economy through accelerated growth of the country’s industrial sector • Increased value-added manufacturing activities • Stimulation of exportoriented production • Creation of productive employment opportunities and increased income opportunities for Namibians, especially those from