foreign investment in namibia pdf

ABSTRACT Foreign direct investments are a challenge to attract, good to host and worse to see leaving. 27, 1990 FOREIGN INVESTMENT ACT, 1990 (2) At any time before a currency for Namibia has been established under section 19 of the Bank of Namibia Act, 1990 (Act 8 of 1990), an investment in Namibia by a foreign national of rand in the currency of the Republic of South Africa shall be deemed . The U.S. is a proud partner of the private sector in Namibia." Mercia Geises, CEO at Stan-dard Bank Namibia, one of the country's top-three banks, is impressed by the improvements Aimed at protecting Irelands critical technology and infrastructure from potentially harmful foreign investment, the new law will allow the Minister for Enterprise, Trade and Employment to evaluate whether an investment poses a threat to Irelands security or public order and the powers to put a halt to such investment, if he or she deems it necessary. Status Investment 4. We recognize the important role that Foreign Direct Investment (FDI) can play in complementing and bolstering our developmental objectives, which are, to stimulate growth, diversify our economy, increase the industrial base and promote value addition. foreign investors. Investment has come though from a wide-range of sectors, including ICT (Amazon, Facebook, Microsoft and Google are among those that have chosen to set up their European headquarters in the country), life sciences, financial services, engineering and business. Ireland has benefited from the adoption of a consistent approach to FDI over many decades (despite changes of government), with long-term plans set out over 5-20 year time periods. Image:WikimediaCommons/Olga Ernst & Hp.Baumeler. PDF POLYTECHNIC OF NAMIBIA - Namibia University of Science and Technology PDF OF THE REPUBLIC OF NAMIBIA - Legal Assistance Centre .chakra .wef-facbof{display:inline;}@media screen and (min-width:56.5rem){.chakra .wef-facbof{display:block;}}You can unsubscribe at any time using the link in our emails. Foreign Investments Amendment Act 24 of 1993 (GG 752) came into force on date of publication: 1 December 1993 This Act (Act 27 of 1990) and its amending act (Act 24 of 1993) are both repealed by the Namibia Investment Promotion Act 9 of 2016 (GG 6110). Definitions In this Act, unless the context otherwise indicates: "approval" means approval of an investment proposed by a foreign investor in terms of this Act; "business activity" means any activity carried out in Namibia: a. that involves the commitment of capital, the expectation of gain or profit and the assumption of risk; and By electrifying key parts of its economy, the Namibian government will spur unprecedented economic activity and growth for citizens. While the IDA will only provide the full suite of its supports for companies which employ 50 or more employees (and with at least 10m revenue), soft supports are also available for smaller operations, including the provision of office space or the setting up of meetings. Critical Geopolitics of Foreign Involvement in Namibia: A Mixed Methods How can impact investors balance the green energy equation. Foreign Investments Act, 1990 - NamibLII 129 on 28 December 1990 Assented to on 19 December 1990 Commenced on 7 July 1992 by Proclamation of 1992 [This is the version of this document from 1 December 1993 and includes any amendments published up to 6 October 2022.] Funding via the 500m Disruptive Technologies Innovation Fund to support collaboration between international enterprises with operations in Ireland, Irish enterprises, higher education institutes and research centres. Grants of up to 10-15% to cover salaries, overheads, equipment, materials and buildings related to R&D investments. This academic thinks so, Presidential Economic Advisor and Hydrogen Commissioner, is affecting economies, industries and global issues, with our crowdsourced digital platform to deliver impact at scale. World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use. This once-off financial support is given on a per job basis to assist companies, who in turn are required to share a business and hiring plan with the agency. Namibia - Investment Climate Statement - International Trade Administration The opinions and analysis expressed in this report are the authors own and do not necessarily reflect the views or official policy position of the New Zealand Government. Investment has come primarily from the U.S., with the large Irish diaspora overseas helping to facilitate connections. Privacy Legal & Trademarks Campus Map, https://scholar.colorado.edu/concern/graduate_thesis_or_dissertations/qv33rw97f, criticalGeopoliticsOfForeignInvolvementInNamibiaAMixedM.pdf. Ownership of different mines is largely dominated by foreign companies who mainly extract and export such minerals to external markets. In 2022, the Irish government published a bill which will provide for the countrys first FDI screening regime. Deloitte US | Audit, Consulting, Advisory, and Tax Services DO BUSINESS DIFFERENTLY REIMAGINE WORK & TRAVEL WITH NAMIBIA'S DIGITAL NOMAD VISA Learn More Namibia invites foreign . Over 32,000 new jobs were created by multinational companies with operations in Ireland in 2022 - the highest level of annual growth for the country ever (the impact of recent job losses in the tech sector are expected, however, to result in lower levels of FDI in 2023); Over 1,700 multinationals now operate across the country, and 20% of all private sector employment in Ireland is now directly or indirectly attributable to FDI; Of the investments made during the year, 127 investments (52% in total) went to regional locations, supporting the economy outside of Dublin. Galway for medical devices / Cork for life sciences / Dublin for tech) and third-level institutions. Ownership of all mines combined is skewed more towards foreign (88.1%) than Namibian (local - only 11.9%). For now, however, Namibia - Market Opportunities - International Trade Administration You can find out more information on our Privacy Page. In terms of global distribution, 847 of the multinationals investing in Ireland are from the United States, 354 companies are of European origin with almost half of those from Germany and France, 136 are UK origin client companies, and 212 come from across the rest of the world including Canada, India, Japan and China. the dynamic effect 5 of FDI flowson the BOP depends on the financiallifecycle of the foreign investment which is closely tied to profitability. ACT NO. Despite the government of Namibia having identified Foreign Direct Investment (FDI) as instrumental to achieving national goals and objectives, the benefits do not accrue . Namibia Foreign Direct Investment - 2023 Data - 2024 Forecast - 1999 Business and Investment Guide for Namibia - PwC A service provided by University of Colorado Boulder Libraries. A key component of the country's energy transition is to leverage its natural endowments to attract much-needed foreign direct investment. between the forms of foreign capital inflows into Namibia is that, foreign direct investment is long term in nature and will naturally involve investors being actively and . As it participates in COP26, Namibia has promised to reduce its emissions by 91% over the next five years. The public debate over this policy reflects rising concerns in southern Africa over who should benefit from globally-significant resources. The goal of this thesis is to create space for the consideration of Namibian perspectives on this topic through the approach of critical geopolitics. Last published date: 2021-10-20 Namibia imports almost all consumer goods and exports most of its primary resources, largely unprocessed. Foreign Direct Investment in Namibia increased by 5228.80 NAD Million in the first quarter of 2023. State-owned Epangelo Mining Company currently holds some exploration and mining rights, due to a call to government to secure Namibia's ownership of its mines. 9 of 2016) ----- 44 2.9.2.3. In May 2011, Namibia's Minister of Mines and Energy issued a controversial new policy requiring that all future mineral extraction licenses be issued only to state-owned companies. While the countrys low corporate tax rate has received most international attention, equally important has been Irelands openness to labour and skills, investment in education and research, and membership of the EU Single Market. ACT Invest in Namibia | Investment climate and opportunities Strong fundamentals Following South Africa's foreign-currency sovereign debt rating downgrades in early-April 2017, Namibia was briefly the last remaining investment-grade issuer of Eurobonds in the SSA region. The Namibia Investment Promotion Act (Act No. While investment from all sectors has been welcomed, those offering high value-to-volume products for export (e.g. The Ministry of Foreign Affairs and Trade and the New Zealand Government take no responsibility for the accuracy of this report. PDF Foreign Investment Act final PMK - Embassy of Namibia, Washington, D.C. Networking sessions with like-minded companies on the investment and operating climate in the country. 27, 1990 FOREIGN INVESTMENT ACT, 1990 ACT NO. First, through textual analysis of media sources, including editorials, letters to the editor, and SMSes, I analyze the divergent portrayals of specific foreign involvement actors and foreign involvement in Namibia more broadly in the Namibian media. PDF NAMIBIA: Africa's best-kept secret - Foreign Policy To remain successful in the years ahead, the agency has said Ireland will need to urgently address issues such as housing, energy, water, and planning issues. Tax Incentives and Foreign Direct Investment: The Namibian Experience Emma Haiyambo Thesis submitted in partial fulfillment of the requirements for the degree Masters in International Business (MIB) in the Harold Pupkewitz Graduate . Concerned with such trends, and following the results of the first Namibia Roadmap, the Ministry of Environment and Tourism (MET), through the Foreign Direct Investment in Ireland - June 2023 | New Zealand Ministry Interpretation. The Foreign Investment Act calls for equal treatment of foreign investors and Namibian firms, including fair compensation in the event of expropriation, international arbitration of disputes between investors and the government, the right to remit profits and access to foreign exchange. For more details, review our .chakra .wef-12jlgmc{-webkit-transition:all 0.15s ease-out;transition:all 0.15s ease-out;cursor:pointer;-webkit-text-decoration:none;text-decoration:none;outline:none;color:inherit;font-weight:700;}.chakra .wef-12jlgmc:hover,.chakra .wef-12jlgmc[data-hover]{-webkit-text-decoration:underline;text-decoration:underline;}.chakra .wef-12jlgmc:focus,.chakra .wef-12jlgmc[data-focus]{box-shadow:0 0 0 3px rgba(168,203,251,0.5);}privacy policy. The Policy and Legal Framework for Sustainable Foreign Direct Investment in Namibia Authors: Ralph Marenga University of Namibia Abstract By use of a qualitative research approach, this study. Policies Towards Foreign Direct Investment Limits on Foreign Control and Right to Private Ownership and Establishment Other Investment Policy Reviews Business Facilitation Outward Investment 2. According to the Online guide to Namibia Investment Climate (2013) shows that, the government of the Republic of Namibia, have taken steps to improve and increase foreign . The attraction of FDI to Ireland has been a cornerstone of Irish government policy since the 1960s and FDI now plays a very significant role in supporting the Irish economy. Using a mixed methods approach, this thesis analyzes Namibians' opinions on foreign involvement, particularly involvement in natural resource extraction, from three sources: China, South Africa, and the United States. However, with uranium being classified as a strategic mineral, Namibia's regulations are changing. Journal of Sustainable Development in Africa (Volume . How innovative construction could ease Namibia's housing crisis, Namibia is poised to become the renewable energy hub of Africa, Can behavioural science help us understand reparations better? Namibia launched its Second Harambee Prosperity Plan (HPPII) in March 2021. Namibia values long-term relationships with foreign investors. Mapping Namibia's transition to a green economy In 2020, U.S. FDI in Ireland stood at USD 390 billion, more than the U.S. total for Brazil, Russia, India, China, and South Africa (the BRICS) combined. It is in line with this view that an investigation of the determinants of foreign direct investment (FDI) in Namibia was launched through this study. Concierge Service: The agency also offers a comprehensive concierge service for companies eligible for support which includes: Rising housing and labour costs have become a growing cause for concern for companies considering Ireland as a destination to locate, and the IDA has forecast that FDI results for 2023 are likely to be less positive. Introductions to a wide range of service providers in the legal, finance and recruitment sectors. PDF Foreign Investments Act, 1990 - NamibLII PDF The Impact of Mining sector to the Namibia economy 9 1995), as amended----- 47 2.9.2.4. . PDF FOREIGN INVESTMENT ACT - Embassy of the Republic of Namibia ICT and Pharma) have been favoured. Namibia also is a member of the International Monetary Fund and the World Bank. Section 2 provides an overview of foreign direct investment in Namibia. PDF Uranium in Namibia: Yellowcake Fever - IFRI Ireland faces a challenge to continue to attract skills and talent to the country, however, as pressure on infrastructure (in particular housing) continues to grow. You can unsubscribe at any time using the link in our emails. By virtue of its location, it offers access for manufacturers and/ or exporters to 15 SADC countries, with a population of 280 million. Namibia - Investment Promotion Act | Investment Laws Navigator | UNCTAD The NIPDB commenced operations as an autonomous entity in the Namibian Presidency and was established to reform the country's . (Pdf) Investigating the Determinants of Foreign Direct Investments in IDA has recently launched an online. The country is on course to develop a green and blue economy as articulated under the economic advancement pillar of the plan. You can email us at nzembdublin@gmail.com to find out more about relevant Embassy and Network activities, and how we can help. Site visits to business parks, office space, business clusters (e.g. Create a free account and access your personalized content collection with our latest publications and analyses. However, that Act has not yet been brought into force. Legal Regime Transparency of the Regulatory System International Regulatory Considerations i. enhance the economic development objectives of Namibia to build a prosperous, industrialised society with adequate direct investment to, among other things, encourage the creation of employment, wealth, technology transfer, capacity building, value addition to natural resources and foreign currency generation; ii. Foreign and local Investment incentives and trade opportunities Industrial climate in Namibia Doing Business in Namibia The labour environment in Namibia Audit, accounting and taxation requirements in Namibia Namibian educational system Download Business and investment guide It is often . created attractive conditions for foreign investors. Economy of Namibia - Wikipedia This note provides a time profile of FDI profitability and its contribution to employment creation in Namibia over the past decade. Namibia - United States Department of State This information released in this report aligns with the provisions of the Official Information Act 1982. If the investment of foreign assets in Namibia is an eligible investment as defined in section 5, the Minister may, subject to the provisions of this Act, issue a Certificate of Status Investment in respect thereof and the provisions of sections 8 to 13 shall apply in It has put in place an enabling environment to assist The current transaction value threshold is set at 2m. Namibia is a small, vulnerable economy with an openness index of close to 80%. The findings of these two approaches provide details on two key aspects of foreign investment in Namibia: first, the ways in which the oft-cited discursive battle of "resource-grabbing" versus "investment opportunity" obscures the diversity of ways in which foreign investment is framed by Namibians, and second, the critical geopolitics, based . Supports include: Employment Grants: For any company establishing operations outside of Dublin the Mid-East (the counties surrounding Dublin) or Cork, IDA offers to cover up to 10% of the average starting salary of employees over two years. . Home Country Commercial Guides Namibia - Market Opportunities Market Opportunities Overview of best prospect sectors, major infrastructure projects, significant government procurements and business opportunities. Ireland faces a challenge to continue to . (1) Where a foreign investor made an investment proposalto the Minister for consideration, the Minister - (a) must receive and consider the proposal together with the recommendation of the Namibia Investment Centre; and 9 of 2016), the Export Processing Zones Act (Act No. PDF An Investigation of The Impact of Foreign Portfolio Investment a Foreign Investments Act, 1990 (Act 27 of 1990) | Namibia Legal Furthermore, foreign direct investment (FDI) in Namibia has been declining in absolute and relative terms, and its value for the country is debated in some quarters of Namibian society. PDF A Business and Investment Guide for Namibia - PwC In January 2021, President Hage Geingob formed the Namibia Investment Promotion and Development Board (NIPDB) led by Nangula Nelulu Uaandja. (1)In this Act, unless the context otherwise indicates -"Bank of Namibia" means the Bank of Namibia established by section 2 of the Bank of Namibia Act, 1990 (Act 8 of . Namibia - United States Department of State Act No. PDF Investigating the Determinants of Foreign Direct Investments in Namibia A weekly update of the most important issues driving the global agenda. 9, 2016 NAMIBIA INVESTMENT PROMOTION ACT, 2016 Powers and functions of Minister 4. Foreign direct investment (FDI) in Namibia - International Trade Portal New Zealand Trade & Enterprises comprehensivemarket guides(external link)cover export regulations, business culture, market-entry strategies and more. PDF Prospects and Challenges for Sustainable FDI in Namibia: A Comparative Bilateral Investment and Taxation Treaties 3. The findings of these two approaches provide details on two key aspects of foreign investment in Namibia: first, the ways in which the oft-cited discursive battle of "resource-grabbing" versus "investment opportunity" obscures the diversity of ways in which foreign investment is framed by Namibians, and second, the critical geopolitics, based on public opinion, that have singled out China in discussions of foreign investment in Africa, even in places like Namibia where it is far from the largest actor. Namibia through growing Na-mibian exports to the U.S. and other countries, increasing U.S. investment in Namibia and sup-porting Namibian entrepreneurs. Table 7 Namibia's Foreign Direct Investment, Gross Fixed Capital Formation and . Corporate tax receipts have more than doubled over the past five years and reached a record 22.6 billion last year. INVESTIGATING THE DETERMINANTS OF FOREIGN DIRECT INVESTMENTS IN NAMIBIA Authors: Jones Dembo Jacob M Nyambe University of Namibia Abstract and Figures Foreign direct investments are a. Luderitz Bay, Namibia. These profits would otherwise qualify for Irelands 12.5% corporate tax rate. They are attracted by Irelands reputation as a welcoming and stable investment destination with access to the EU Single Market and close links to the US, a young skilled workforce with a rich pool of tech talent, a competitive tax policy (a 12.5% corporate tax rate), and a high quality of life. PDF Note on Understanding Fdi Profitability in Namibia: Reinvestment or The total FDI stock grew to USD 6 billion in 2020. PDF Journal of Sustainable Development in Africa (Volume 21, No.1, 2019 Namibia welcomes foreign investment and provides a strong foundation of stable, democratic governance, and good infrastructure on which to build businesses. 9 of 1995) as amended, and the Infant Industry Protection Act were singled out and identified as being flawed, particularly with reference to maximizing the benefits for Namibia and allowing for sustainable FDI contribution to national development. This site contains PDF . PDF NAMIBIA TOURISM INVESTOR ROADMAP - United States Agency for PDF ICS Template 03-04-2011 ACTTo make provision for the promotion of foreign investments in Namibia.BE IT ENACTED by the National Assembly of the Republic of Namibia, as follows:-. New Zealand Foreign Affairs & Trade | Manat Aorere, 195 Lambton Quay, Private Bag 18 901, Wellington 6160, New Zealand, Foreign Direct Investment in Ireland - June 2023, Graduate and Intermediate Policy Officer Opportunities, Brokering weapons and dual-use items for military use, Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Our aid partnerships beyond the Pacific and south-east Asia, Aotearoa New Zealands Universal Periodic Review, Guidelines for the diplomatic and consular corps, Our Commitment to Antarctica and the Southern Ocean, MFAT launches consultation on international climate negotiations. Foreign Investments Act, 1990 Namibia Foreign Investments Act, 1990 Act 27 of 1990 Published in Government Gazette no. PDF Namibia - Food and Agriculture Organization (PPPs) or foreign direct investment (FDI). Foreign Investments Act, 1990 Act 27 of 1990 Published in Government Gazette no. 1. Post-Brexit, NewZealand companies are increasingly looking at Ireland as a location to set up new operations or partnerships. Data points used are for 1984 to 2014. Enjoy frictionless trade with the EU from Ireland; Benefit from both the free movement of EU citizens and the free movement of British citizens to Ireland (due to the Common Travel Area arrangement); Avail of tariff free goods trade with the UK (subject to rules of origin requirements); Transfer personal data between Ireland, the EU and the UK; Operate in one of only two English speaking members in the EU (the other being Malta); A 25% R&D tax credit, administered by the Irish Revenue Commissioners, available to companies that undertake new or additional R&D activity in Ireland.
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