namibia investment promotion and facilitation bill{ keyword }

2 of 2017) and associated Regulations as published in August 2021. The Namibia Investment Promotion Act (NIPA or 2016 Investment Act ) was promulgated in 2016. Bilateral Investment and Taxation Treaties 3. Many jurisdictions around the world explicitly mention which economic sectors are reserved for which category in their law and policy. The 2016/2017 e-guide contains insights for investors into: It is very clear that the design of national investment law and policy has evolved around the central themes of equality of treatment of both foreign and domestic investors, aligning the law and policy to sustainability and country developmental goals whilst ensuring that risks pertaining to national security, entrepreneurship development and public interests are managed through sector reservations. The ministry is to do further consultation before re-tabling the Bill. Namibia Investment Promotion Act 9 of 2016 "interest rate" means the percentage rate to be paid by reference to the LIBOR (London Interbank Offered Rates) rate; Investment bill withdrawn. 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. For developing countries such as Namibia, increasing global asymmetries requires a much more nuanced and focused approach to a national investment policy inclusive of sector reservations and an applicable rules regime thereof. Please note: To read the article, please enter your details below. Investment bill will deter money - Namibian Sun Opinion - MIT's notable milestones and achievements for 2022 It also provides an opportunity in terms of attracting international innovators and technological investors who may rather wish to register IP across multi-jurisdictions simultaneously. Venaani said the bill manifestly defies the principles of an open and free market economy and directly opposes the proposition of an egalitarian society, which the PDM champions. Enactment of the Namibia Investment Promotion Bill - Harambee - Gov It must be effective. The Bill, which was tabled by industrialisation and trade minister Lucia Iipumbu last week, was designed to replace the controversial Namibia Investment Promotion Act (NIPA), which was enacted in 2016. PDF BUDGET MOTIVATION STATEMENT FOR VOTE 19 - Parliament of Namibia The analysis reads: "Its logical consequence (irrespective of its stated noble intentions) will lead to reduced economic freedom, abolishment of the principles of the rule of law, abolishment of the protection of property rights and coerced redistribution of wealth, which harms our constitutionally guaranteed mixed market economy. The PDM rejects the consideration of a bill which would effectively deter the much-needed investment in an already competitive international investment arena and entreats the trade ministry, in consultation with the necessary stakeholders, to not only review the bill holistically, but to also consider and implement the recommendations posed by the NIPDB where necessary, Venaani added. By NBC Online Published 1 month ago 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. It also allows the government to increase the sources of information which should improve the quality of policy and legislative decisions. Save my name, email, and website in this browser for the next time I comment. The Bill actually lends itself to evidence-based policymaking dictates as opposed to kneejerk policy reactions. Opinion - Decoding the draft Namibia Investment Promotion and Facilitation Bill. The article therefore first provides a short overview of key themes that modern investment policy and legislation covers. 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 Bill actually lends itself to evidence-based policymaking dictates as opposed to kneejerk policy reactions. Venaani: Investment bill repressive, absolutist - Namibia BILL To provide for the promotion and facilitation of foreign and 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. To address comments or complaints, please Contact us. In Namibia, there is no law or policy that obliges public consultation in policy and law making. EPRA remains adamant that the IPFB cannot attract substantive investment -and as a result, it cannot achieve the desired empowerment or grow the domestic economy. 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. Resultantly many countries have actually adopted ex-ante Foreign Direct Investment screening regimes to identify, calculate and prevent security-related risks and implications. The binding nature of this thread hangs on the extent to which the views of the Namibian people are reflected in policies and laws. Namibia Investment Promotion and Facilitation Act tabled | nbc document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); You have entered an incorrect email address! Namibia - United States Department of State The withdrawal was prompted by a series of articles notably in The Namibian, Republikein and Namibian Sun dailies, which castigated the draft . This also looks at, as a policy measure, the availability of an integrated agency system that foster application programming interface technology, which then coordinates investment approval functions between relevant government agencies. We operate from Cape Town, Dakar, Abuja, Johannesburg, Nairobi and Washington DC. Policy gaps scare off investors - NIPDB - Namibia It must aim for an open exchange and sharing of ideas and give due consideration to all input received. 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. "It will also be detrimental to those most in need of upliftment and who have not yet shared in "empowerment" since 1990, for they will suffer the brunt of the consequences of further economic decline. *Dr Michael Humavindu is the Deputy Executive Director: Ministry of Industrialisation and Trade. Developments in aspects that cover administrative procedures and implementation are meant to ensure the elimination of a national process that is unnecessarily bureaucratic, onerous and antiquated. Capacity development and transfer of skills . In 2014-2019, UNCTAD trained investment promotion experts from more than 100 countries. Instead, this proposed lacklustre and flimsy bill directly opposes that, Venaani noted. These pertain to ensuring the equal treatment of both domestic and foreign investors, as many older investment agendas were fixated on foreign investors only. 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. 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. Thank you for watching NMH@1, where we highlight the news making headlines in the land of the brave and beyond, ranging from current affairs, community. Resultantly many countries have actually adopted ex-ante Foreign Direct Investment screening regimes to identify, calculate and prevent security-related risks and implications. Ministry of Trade and Industrialization | nbc The rule of law recognises the right of the public to participate in policy and law making. The Namibia Investment Centre (NIC) The NIC is the first port of call for local and foreign investors established in 1990 under the Foreign Investment Act No. The IPFB also contains sufficient unconstitutional provisions and systemic flaws that it may be impossible to cure," reads EPRA's analysis. In its current form, the proposed Investment Promotion and Facilitation Bill is repressive, absolutist and centralises power in the hands of the line minister according to McHenry Venaani. The bill, despite government assurances to the contrary, does not incentivise investment. The IPFB was promptly withdrawn, and it is expected to be re-tabled in early 2022. These are all things Namibia can ill afford. The EPRA is particularly concerned about the exclusion of any group (or categories of investors), which they cautioned will be to the detriment of investment and employment creation. 2022nbc| nbc Applications Team |, Namibia Investment Promotion Facilitation Bill, Police raise awareness on livestock theft, Makanga Johannes Mushongo receives Wheelchair donation, Namibia Investment Promotion Facilitation Bill to potentially introduce compliance officers. A case in point for EPRA is the Investment Promotion and Facilitation Bill (IPFB) that was tabled and subsequently withdrawn in Parliament during November last year. This is where the interface of national domestic investment law become imperative with activities pertaining to PPPs, and economic sectors reserved for the state, strategic investments, innovation or joint ventures seeking to leverage mainly on public procurement opportunities and reformed ODA flows.

Can Britain Take Back Hong Kong, Archbishop High School Basketball, Articles N