Commenting on the Draft of the Investment Promotion and Facilitation Bill, the Economic Association of Namibia (EAN) has asked for the government to clarify various sections of the bill.
One of the sections being Section 3, which, according to the EAN, limits the application of the Act primarily to investors seeking incentives or operating in designated sectors.
The Association raised questions on the regulatory framework applicable to investments that fall outside these categories, noting that clarification would benefit all involved parties.
The other sections include Sections 30-31, which indicate the designation of economic sectors and business activities.
The Association noted that additional clarity on classification criteria, review periods, and transition arrangements could help reduce uncertainty for existing and prospective investors.
The EAN also mentioned the expansion of existing investments (Section 30(7)), saying consideration should be given to clearer safeguards to ensure that expansions strengthening existing operations are not unduly constrained.
The Association has also doubled down on the Minister or sectoral minister’s discretion on investment approval processes and decision-making (Sections 33–35), saying the approval framework places significant discretion with the Minister or sectoral minister.
