Investment Act approved

The new Investment Act was signed by the President on 16 August 2016. The Act provides for the reservation of certain business activities such as hairdressing, street vending, retail, take-away businesses and beauty salons for Namibians. It also introduces the concept of performance agreements if deemed appropriate, where the minister may sign a contract with an investor. Further, it gives the Minister of Industrialisation, Trade and SME Development the option, for national security reasons and other public interests, to reserve specific sectors for certain categories of investors, for the state or Namibians. This act also provides for the promotion of sustainable economic development and growth through the mobilization and attraction of foreign and domestic investments to enhance economic development.

• Type:

  • Entry and establishment (Ownership and control)
  • Treatment and operation (Operational conditions)
  • Promotion and facilitation (Investment incentives)

• Industry:

  • Not industry specific

• Sources:

  • Ministry of Trade and Iindustry, Promulgation of Namibia Investment Promotion Act, 2016 (Act No. 9 of 2016), of the Parliament, http://www.mti.gov.na/downloads/Gazetted%20Nam%20Investment%20Promotion%20Act%20, 31 Aug 2016
  • The Namibian, New investment law expected to bring relief to locals, http://www.namibian.com.na/index.php?page=archive-read&id=154556, 17 Aug 2016