The Namibia government on Thursday announced an alignment of its legislation on Special Economic Zone to Southern African Customs Union (SACU) laws.
Namibia is a member of SACU, a customs union made up of South Africa, Botswana, Eswatini and Lesotho.
Namibia is adopting SEZ to replace the Export Processing Zones which were dumped for failure to meet the targeted economic growth and creation of employment.
The Namibian Government wants to use the SEZ to attract investment as well as grow its economy following two years of recession and slow down in key economic areas including mining, retail and constriction.
“Government will undertake the alignment of SEZ Policy Framework to SACU agreements and other international agreements and obligations including the prevention of transfer pricing, review of film incentives and fiscal and non-fiscal incentives impacting on investors decision making, ” the government said.
