namibia investment promotion and facilitation bill

The Bill was designed to replace the Namibia Investment Promotion Act (NIPA), which was enacted in 2016. Pohamba appeals for youth enterprises funding, Kandjii-Murangi dragged over Nust S&T Legislator Hidipo Hamata wants commerc ial banks removed from the governments hou. Investment Promotion and Facilitation This is despite the bill having been withdrawn from the National Assembly last month. The IPFB also contains sufficient unconstitutional provisions and systemic flaws that it may be impossible to cure," reads EPRA's analysis. Those consulting must explain how consultation will affect decision making and must provide feedback on how the input received will be used. *Dr Michael Humavindu is the Deputy Executive Director: Ministry of Industrialisation and Trade. France allows police to spy through phones, Japans nuke wastewater a danger to worlds oceans, Lithuania: NATO summit to offer Ukraine a lot, 7 killed during motorcycle rescue in Tanzania, Cameroon tackles measles and rubella outbreak. 2 of 2017) and associated Regulations as published in August 2021. The Minister of Industrialisation and Trade Lucia Iipumbu has tabled the bill in the National Assembly that will revamp and revive the country's investment legislation. Crucially dictates from a national investment policy over such matters are vital to ensure effective permeability into the law but also to ensure alignment to national development goals. He said these concerns have also been shared by NIPDB chief executive officer (CEO) Nangula Uaandja who according to Venaani, flagged distress in the NIPDB being offered no independence under this Bill. This week, we witness the temporary withdrawal of the draft Namibia Investment Promotion and Facilitation Bill (NIPA) by the minister of Industrialisation and Trade (MIT) in the National Assembly. The Namibia Investment Promotion and Facilitation Act seeks to enable a conducive environment to attract, retain and facilitate both domestic and foreign sustainable investment in the country. | sport, headline Uaandja said for the next period, there must be ground-breaking ceremonies that demonstrate tangible movement towards the countrys development. This week, we witness the temporary withdrawal of the draft Namibia Investment Promotion and Facilitation Bill (NIPA) by the minister of Industrialisation and Trade (MIT) in the National Assembly. Namibia Investment Promotion Facilitation Bill to potentially - YouTube It must be participatory. Also speaking at the event was ||Kharas Regional Council Chairperson Joseph Isaack, "We are all aware that our country is a small, open country, and it requires all stakeholders to work together, educate one another, and share ideas to develop our country on all spheres of the business spectrum so it can be at the level we all aspire to be as a country. In November 2021, a proposed "new and improved" investment bill, the IPFB, was tabled. Namibia Investment Promotion Facilitation Bill to potentially introduce compliance officers 1 month ago By NBC Online. The Namibia Investment Promotion and Facilitation Bill, if unchanged, will see the introduction of compliance officers to ensure that businesses operate within the confines of the laws. We need to reset and ensure the passing of the bill as soon as we all attune ourselves to the true orientation, intentions, and content of the Bill. "This Bill is going to bring on board now the specific business inspectors, which we do not have; as of now, there is nobody going to our business operators, especially those that you complain about; I don't want to mention them, but you know which category they're in; we would now want to bring these people on board to be based in offices like Kisting's office so that they would go and do the actual inspection and determine whether the operators are within the law as per requirement. 17th NOVEMBER 2021 NATIONAL ASSEMBLY Honourable Speaker, Honourable Members of the National Assembly, rise to introduce and table for consideration and subsequently ratification by this August House, the Namibia Investment Promotion and Facilitation Act (NIPA). Capacity development and transfer of skills 27. This article is an attempt to decode the draft Bill in lieu of modern investment legislation central themes. She explains that all the planning for the ministry is done at the head office, so regional planners basically have minimal tasks to carry out. An emerging trend around this attempt to digitalise and interconnect governmental agency system is the realisation by many countries to buffer this with a national cyber security legislative framework. Namibia Investment Promotion Facilitation Bill to potentially introduce compliance officers. The most likely outcome however is underwhelming; it will almost certainly lead to further economic contraction, reduced investment, increased unemployment and increased poverty," the association warned. At times countries move beyond this and firm it up through an Ease of Doing Business Act to provide more teeth to this aspect of what is sometimes called aOne-Stop-Shop. The Namibia Intellectual Property Regime (IP) is also bound by the Paris Convention for the Protection of Industrial Property, which has implications on filling priority between and amongst states and even on the treatment of filling dates. EPRA's analysis of the proposed legislation stresses that the bill cannot lead to increased investment and economic growth. To complete the process, please follow the instructions in the email we just sent you. A closer look, however, reveals that governments tend to favor investment promotion over facilitation. Ministry of Trade and Industrialization | nbc It alerts policy and law makers to concerns and issues not picked up through existing evidence or research. At times countries move beyond this and firm it up through an Ease of Doing Business Act to provide more teeth to this aspect of what is sometimes called aOne-Stop-Shop. The binding nature of this thread hangs on the extent to which the views of the Namibian people are reflected in policies and laws. Instead, it disincentives investment. Save my name, email, and website in this browser for the next time I comment. The article therefore first provides a short overview of key themes that modern investment policy and legislation covers. The Economic Policy Research Association (EPRA) remains concerned about what it terms as government's regressive economic policy direction. According to the report, during the first year, NIPDB undertook to identify the policies considered by investors to be most urgent and important to coordinate. The thread that binds policy and law makers and the courts are the Namibian people. Consultations must be conducted widely. Developments in Aspects of Administration, Approval, Implementation and Post Investment Interactions. Thereafter it decodes these themes in terms of the draft NIPA before it concludes. The Bill will, among others, give the trade . Although the resultant outcome is regrettable, perhaps it also shows the deficiencies in our nations economic journalism competencies. Jo-Mar Duddy There is no point in having an investment promotion agency like the Namibia Investment Promotion and Development Board (NIPDB) if it has no power to engage in actual investment promotion, facilitation and advocacy. Africa-Press Namibia. The NIPDB is headed by a highly regarded chartered accountant, and analysts are optimistic that this new entity will better facilitate investment in Namibia. The Namibia Investment Promotion and Facilitation Bill, if unchanged, will see the introduction of compliance officers to ensure that businesses operate within the confines of the laws. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); You have entered an incorrect email address! This leads us to a key feature that is becoming central in national investment legislation. IPFB has the (stated and noble) aim of promoting and facilitating foreign and Namibian investment to enhance sustainable economic development and reduce unemployment. Save my name, email, and website in this browser for the next time I comment. Cullinan St. Northern Industrial Windhoek, Namibia, Tel: +264 (0) 61 291 3111 | WhatsApp +264 811499999, Newsroom: +264 (0)61 291 3228/3226/3568 Email: news@nbc.na Please note: To read the article, please enter your details below. However, it is actually meant to create a pathway towards self-reliance through developing entrepreneurship, fostering backward and forward linkages in the economy as well as guarding against Public Interest. This has massive implications in how such ODA shape investments flow into the Global South as well. Furthermore existing and entrenched global asymmetries drives certain key themes that are becoming pervasive across national investment policy and legislation. Resultantly many countries have actually adopted ex-ante Foreign Direct Investment screening regimes to identify, calculate and prevent security-related risks and implications. Yours truly is willing to offer any free course for any interested local scribe surely. In 2018 the house passed 10 bills, whereas one lapsed. Venaani on Tuesday said this clearly violates the constitutional protection outlined in Article 21 (1) of the Namibian Constitution which states: All persons shall have the right to practice any profession or carry on any occupation, trade or business.. Bilateral Investment and Taxation Treaties 3. Legal Regime Transparency of the Regulatory System Comparing the proposed legislation to the likes of the proposed National Equitable Economic Empowerment Bill (NEEEB), the EPRA said the IPFB will only cause further, substantial economic decline, more capital outflows, more business closures and substantial job losses. Last year, Uaandja said promoting Namibia at this point in time is a very easy task due to new developments the country has confirmed, such as oil discoveries and the green hydrogen ambitions. More so, it is paramount for Namibia, which is unduly classified as an upper middle income country although it has the second highest income inequality levels in the world. As at March 2023, Namibian investments in the pipeline increased to N$161 billion. He said it comes as no surprise that the trade minister, Lucia Iipumbu, attempted to sneak the bill into parliament and use the tyranny of numbers that the ruling party possesses to, at the eleventh hour, pass a controversial and highly disputed bill.. Independent Namibia was founded on the principles of democracy, the rule of law, the separation of powers, entrenched rights and freedoms and constitutional review. PDF BUDGET MOTIVATION STATEMENT FOR VOTE 19 - Parliament of Namibia Ensuring policy coherence and cooperation around the implementation interface around these vital investor registration outlets and platforms will be a constant activity beyond the enactment of the NIPA Bill. Many countries also advance the national security argument in relation to risks that may arise over loss of control of domestic inputs such as critical goods and infrastructure and technology to foreign hands. The Namibia Investment and Promotion Board (NIPB) - formerly called the Namibia Investment Center (NIC) - now housed in the Office of the President, serves as Namibia's official investment promotion and facilitation office. Instead, it disincentives investment. For More News And Analysis About Namibia Follow Africa-Press. NIPDB engaged in policies during the year, such as the Namibia Investment Promotion and Facilitation Bill, Migration Bill, as well as Namibia Equitable Economic Empowerment Bill. However, of late the Ease of Doing Business Indicators have suffered some reputational damage and is most likely to feature less as a barometer of global competitiveness. Keep in mind that as a middle income country, the twin threats of aMiddle-Income TrapandPremature Deindustrialisationstares us right in the face-as we have no or little competent capacities built to compete on the basis of innovation, technological change and the production of knowledge-intensive goods and services. Thus, he said not only does this Bill regulate the fundamental parameters of the countrys ramshackle investment and business environment, it also polices and militarises the business environment in which potential investors seek to operate, with heavy offences and penalties outlined for offenders within the Bill. "The Investment Promotion and Facilitation Bill (IPFB) is not aligned with its stated policy objectives. The design of ones national investment policy and law therefore should be a critical tool to help ameliorate these structural developmental limitations and act as a bulwark against the twin threats. "Unfortunately, it appears that sensible and pragmatic input on the bill (even from government's own investment agency) has largely been ignored. 9, 2016 NAMIBIA INVESTMENT PROMOTION ACT, 2016 (cc) portfolio investment that constitutes less than 10% of the . Many countries also advance the national security argument in relation to risks that may arise over loss of control of domestic inputs such as critical goods and infrastructure and technology to foreign hands. Although the resultant outcome is regrettable, perhaps it also shows the deficiencies in our nations economic journalism competencies. ON THE OCCASION OF THE NAMIBIA INVESTMENT PROMOTION AND FACILITATION BILL MONDAY, 10 OCTOBER 2022 VENUE: LEO SHOOPALA HALL . Utilising the accompanying regulations to continuously ensure the updating and revamping of the promotional agency is a valuable outlet to utilise. The IPFB. Namibia - United States Department of State Other countries looked at rather appreciating the World Economic ForumsGlobal Competitiveness Reports. Cullinan St. Northern Industrial Windhoek, Namibia, Tel: +264 (0) 61 291 3111 | WhatsApp +264 811499999, Newsroom: +264 (0)61 291 3228/3226/3568 Email: news@nbc.na The Bill actually lends itself to evidence-based policymaking dictates as opposed to kneejerk policy reactions. Africa-Press Namibia. These pertain to ensuring the equal treatment of both domestic and foreign investors, as many older investment agendas were fixated on foreign investors only. The issue of private-public partnerships (PPP), as defined as a transaction whereby a private entity provides public infrastructure or services for use by the public (in lieu of performance-linked payments) is also imperative to align such to sustainable development. Every year, 200 investment promotion professionals benefit from UNCTAD training, and 700 investment stakeholders take part in high-level investment promotion meetings and conferences. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); You have entered an incorrect email address! The withdrawal was prompted by a series of articles notably in The Namibian, Republikein and Namibian Sun dailies, which castigated the draft . In November 2021, a proposed "new and improved" investment bill, the IPFB, was tabled. Article 45 of the Constitution echoes that the National Assembly is representative of all Namibians. Many jurisdictions around the world explicitly mention which economic sectors are reserved for which category in their law and policy. The Namibia Investment Promotion and Facilitation Act seeks to enable a conducive environment to attract, retain and facilitate both domestic and foreign sustainable investment in the country. PDF Investment promotion and facilitation It helps to monitor existing policy and law. This leads us to a key feature that is becoming central in national investment legislation. By submitting above, you agree to our privacy policy. Act No. Business and Investment Guide for Namibia - PwC 28 of 2004) with registration number 21/2020/0929) and declared as a Resolution of post establishment disputes . The bill, despite government assurances to the contrary, does not incentivise investment. As a young constitutional democracy, this republic ought to strive to always uphold the ideals of the Constitution. IPFB mechanisms will enrich elite - EPRAwarns of job losses and NIPDB engaged in policies during the year, such as the Namibia Investment Promotion and Facilitation Bill, Migration Bill, as well as Namibia Equitable Economic Empowerment Bill. For More News And Analysis About Namibia Follow Africa-Press. THE Popular Democratic Movement (PDM) has rejected the proposed investment promotion and facilitation bill (IPFB), they said in a statement yesterday.
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