It does so by increasing policy uncertainty, giving virtually unlimited powers to a minister (which is open to substantial abuse), and creating vast layers of additional bureaucracy (and therefore cost to doing business). Regional Development Planners within the ministry, says Iipumbu, would be converted into compliance officers. 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. These are all things Namibia can ill afford. In Namibia, there is no law or policy that obliges public consultation in policy and law making. It further aims to dispel the unfortunate misdiagnosis on the intentions and orientation of the Bill that the media managed to successfully posit thereby creating confusion and unjustifiable fear-inducing analyses among its readership. 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. This is quite pertinent as the issue of ease of doing business interfaces across various strata of policy regimes. PDF Namibia Investment Promotion Act 9 of 2016 - Legal Assistance Centre Sector reservations or defining a negative lists, restricted lists, encouraged lists etc to delineate which sectors are reserved for nationals or the state or for strategic investments may be classified as economic nationalism in certain quarters. This is quite pertinent as the issue of ease of doing business interfaces across various strata of policy regimes. 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. It helps to monitor existing policy and law. 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. 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. Namibia Investment Promotion and Development Board - NIPDB It effectively gives the minister inexhaustible powers to decide not only who may invest, who is authorised to partner with investors, but also on which conditions said investments may advance and whether or not these investments may be repatriated, Venaani added. Nowhere in the Bill is the minister empowered to approve all economic sector and business activities as wrongly alluded to by the media. POLICY MAKING falls under the executive (the president acting with Cabinet), while law making falls under parliament (National Assembly and National Council). The rule of law recognises the right of the public to participate in policy and law making. If these are implemented within the next 12 months, then many of the challenges within the investment space can be successfully addressed, she said. 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. 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. 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. It also allows the government to increase the sources of information which should improve the quality of policy and legislative decisions. Thus, the values and aspirations of the Namibian people should permeate policy making and law making, as well as the interpretation of legislation and the Constitution. The EPRA analysis was prepared by several experts in law (including international trade law), economics, business management, corporate governance, risk management, financial management, public governance and futures studies. The Namibia Investment Promotion Act (NIPA or 2016 Investment Act ) was promulgated in 2016. EPRA's analysis of the proposed legislation stresses that the bill cannot lead to increased investment and economic growth. Be as it may, experiences over the years are pointing to some trends. The media articles took the ministers determination powers over Reserved Economic Sectors and Business Activities and abrogated it across all investments wrongly. Economic journalism is not a good tool when wielded blindly. Speaking at the stakeholders' engagement at Keetmanshoop, the Minister of Trade and Industrialization, Lucia Iipumbu, explained the benefits that come with the bill once it becomes law, as well as the National Consumer Policy and the Liquor Act. This is the message of NIPDB chairperson and chief executive officer, Nangula Uaandja, which she wrote to Lucia Iipumbu and other ministers after the industrialisation and trade minister tabled Namibia Investment Promotion and Facilitation Bill (NIPB) in parliament on Thursday. 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.. The analytical document was funded by voluntary contributions from members and supporters of EPRA, whose management committee comprises Gideon Shilongo, Johan Coetzee and Jaime Smith. In addition, as much of the world subscribes to the Sustainable Development Goals (SDGs) and is fixated with the Climate Change Agenda ensuring that the investment so attracted is sustainable and becomes imperative. Many jurisdictions around the world explicitly mention which economic sectors are reserved for which category in their law and policy. These pertain to ensuring the equal treatment of both domestic and foreign investors, as many older investment agendas were fixated on foreign investors only. In 2019 the NA passed six bills, while four lapsed. 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. Enhance implementation and enforcement of Namibia's regional and international treaty obligations, during the HPPII period Region: Countrywide Sector: International Relations and Cooperation Utilising the accompanying regulations to continuously ensure the updating and revamping of the promotional agency is a valuable outlet to utilise. 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. Namibia Investment Promotion Facilitation Bill to potentially introduce compliance officers - Namibia Windhoek all news Namibia Investment Promotion Facilitation Bill to potentially introduce compliance officers 22-05-2023 | 12:13 7 Africa-Press - Namibia. There was a problem processing your submission. The new Namibia Investment Promotion and Development Board (NIPDB) housed in the Office of the President, serves as Namibia's official investment promotion and facilitation office. This has massive implications in how such ODA shape investments flow into the Global South as well. Thereafter it decodes these themes in terms of the draft NIPA before it concludes. 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. Developments in Aspects of Administration, Approval, Implementation and Post Investment Interactions. There is no point thus to facilitate investment through PPP, which will degrade the Namibian environment or cause further social inequality or upheaval. Opinion - MIT's notable milestones and achievements for 2022 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. The Investment Guide was developed to provide investors with practical guidelines on setting up a business in Namibia. IPFB has the (stated and noble) aim of promoting and facilitating foreign and Namibian investment to enhance sustainable economic development and reduce unemployment. He said the bill clearly violates the constitutional protection outlined in Article 21 (1) (j) of the Namibian Constitution which states: All persons shall have the right to practise any profession or carry on any occupation, trade or business.. Independent Namibia was founded on the principles of democracy, the rule of law, the separation of powers, entrenched rights and freedoms and constitutional review. 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. Building a conducive framework for foreign direct investment 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. Namibia Investment Promotion Facilitation Bill to potentially - YouTube Other countries looked at rather appreciating the World Economic ForumsGlobal Competitiveness Reports. For More News And Analysis About Namibia Follow Africa-Press. Other countries looked at rather appreciating the World Economic ForumsGlobal Competitiveness Reports. It further aims to dispel the unfortunate misdiagnosis on the intentions and orientation of the Bill that the media managed to successfully posit thereby creating confusion and unjustifiable fear-inducing analyses among its readership. AllAfrica publishes around 600 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. Instead, it disincentives investment. 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. Policy gaps scare off investors - NIPDB - Truth, for its own sake. Thus in modern investment policy and legislation, it is increasingly becoming common that investment is coaxed towards the definition of sustainable investment and largely becomes the policy and law object thereof. Stakeholder analysis must be conducted and timelines set. The withdrawal was prompted by a series of articles notably inThe Namibian,RepublikeinandNamibian Sundailies, which castigated the draft Bill for the perceived Super minister powers it accords. It covers all major legal and regulatory requirements, explains processes and provides general information on Namibia to help investors and business owners. Africa-Press Namibia. 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. *Dr Michael Humavindu is the Deputy Executive Director: Ministry of Industrialisation and Trade. UNCTAD's services in this area target investment promotion agencies and other institutions that facilitate and promote investment at the regional, national and subnational levels. 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. Your experience on this site will be improved by allowing cookies. Uaandja said for the next period, there must be ground-breaking ceremonies that demonstrate tangible movement towards the country's development. The developing world, inclusive of Namibia, is faced with increasing global asymmetries manifesting through for example unequal access to global financing, concentration of wealth and technology in developed economies, concentration of fiscal stimulus and investments in the developed world, unequal access to vaccines and vaccination levels, increasing digital divide and disparities in climate responsibilities and responses.