Department: Namibia Investment Centre (NIC)
The Namibia Investment Centre (NIC) was established in 1990 under the Foreign Investment Act No. 27 of 1990(which is currently under review) with the major responsibility of promoting FDI (Foreign Direct Investment). The NIC is the first port of call for investors, local and foreign.
The NIC is operating as a Department within the framework of the Ministry of Trade and Industry.
To market Namibia as the preferred investment destination in the region by attracting and retaining both foreign and local investment.
- Market Namibia as a favourable investment destination
- Facilitate and create an enabling investment environment and regulatory framework
- Ensure that Namibia has a fair share of regional and global FDI flows
- Identify and encourage the attraction and growth of inward and outward domestic investment
Reasons why invest in Namibia
- Namibia has solid foundations for democracy, good governance, peace and stability
- Business firendly legal and regulatory framework, and liberal investment incentive regime (e.g EPZ, exporters and manufacturers incentives)
- Sound financial system and stable foreign exchange reserves
- Ideal gateway to SADC regional market via trade agreements and world port, rail, road and air infrastructure
- Excellent telecommunications network
- Efficient and transparent bureaucratic system
- Good housing, health, education and recreational facilities
- A pool of young and trainable labour force and incentives for training
- An oasis of investment
Services Offered by NIC
- Act as the first port of call for any potential investors to Namibia
- Offer investor services such as required in establishing business in Namibia, e.g., application for work permits, assistance with search and identification of land/premises, etc.
- Identify and advise on the elimination of administrative bottlenecks confronting investors
- Promote investment opportunities to both local and foreign investors
- Conduct research on investment climate and trends, sector studies, identify , profile and market investment projects and avail this information to interested investors
- Promote and facilitate joint venture arrangements and encourage domestic participation in investment initiatives
- Issuing of the Certificates of Status Investment
- Investment Incentives
The NIC is continuously striving to improve the business environment as follows:
- Identify administrative obstacles to investment and recommend procedures to minimize these
- Periodic review and update of investor incentives
- Review, develop and update of the regulatory framework and legislations