Government close to finalising new Investment Promotion Bill

The government is in the final stages of enacting the Namibia Investment Promotion and Facilitation Bill (NIPFB), a legislative measure aimed at enhancing the country’s investment climate to attract both local and foreign investors.

President Netumbo Nandi-Ndaitwah announced during a session in Luanda, Angola, that the Ministry of International Relations and Trade is diligently working to complete the bill. The legislation is designed to create a more transparent and conducive environment for investment, facilitating economic growth and job creation across various sectors.

Economist Robert McGregor, Head of Research at Cirrus Capital, has expressed optimism about the potential impact of the bill.

The NIPFB is expected to replace the outdated Foreign Investment Act, which has been criticized for not aligning with current investment dynamics. The new bill aims to provide clear guidelines for investors, ensure the protection of their rights, and establish mechanisms to address concerns promptly.

As Namibia seeks to diversify its economy and reduce unemployment, the finalization of the NIPFB is seen as a significant step toward fostering a robust and sustainable investment landscape.

The post Government close to finalising new Investment Promotion Bill first appeared on Future Media News.

The post Government close to finalising new Investment Promotion Bill appeared first on Future Media News.